Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of B&G Foods (NYSE:BGS) were headed to the bottom shelf today, falling as much as 11% after the company came up short on the bottom line in its fourth-quarter earnings report.

So what: The canned-foods maker said earnings per share came in at $0.39, below estimates at $0.44, making this the third straight quarter that the company has missed earnings expectations. Sales improved 21.8% to $211.5 million, ahead of estimates, but the gains were primarily due to recent acquisitions. Revenue in the base business was essentially flat for the quarter, increasing just 0.9%.

Now what: While the miss on the bottom line was disappointing, profits still improved from $0.32 a share a year ago, indicating that incremental sales from acquisitions appear to be trickling down. B&G is never going to be a growth star, but with savvy acquisitions, solid EBITDA growth, and a dividend yield of 4.6%, it could be a steady earner for your portfolio. Still, the company's payout yield is above 90%, indicating that dividends could be cut if cash flow falls. Keep your eye on that level going forward; B&G has just $4 million in cash on its balance sheet so it will need to generate continuing cash flow to cover those dividend payouts. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.