Investors Purchase High Volume of B&G Foods Call Options (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS) was the recipient of some unusual options trading on Monday. Traders bought 9,058 call options on the stock. This represents an increase of 200% compared to the average daily volume of 3,019 call options.

Shares of BGS stock opened at $24.46 on Wednesday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 17.99 and a beta of 0.25. The stock has a 50-day moving average of $23.75 and a 200-day moving average of $18.48. The company has a current ratio of 3.69, a quick ratio of 1.78 and a debt-to-equity ratio of 2.52. B&G Foods has a 1-year low of $10.39 and a 1-year high of $26.39.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. B&G Foods had a return on equity of 12.82% and a net margin of 5.17%. The company had revenue of $449.37 million during the quarter, compared to analysts’ expectations of $431.04 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts forecast that B&G Foods will post 2.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 7.77%. The ex-dividend date is Monday, June 29th. B&G Foods’s dividend payout ratio (DPR) is 115.85%.

Several equities analysts have commented on the company. ValuEngine downgraded B&G Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, April 7th. DA Davidson assumed coverage on B&G Foods in a research report on Thursday, June 11th. They issued a “neutral” rating for the company. Credit Suisse Group increased their target price on B&G Foods from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Barclays reiterated a “neutral” rating on shares of B&G Foods in a research report on Thursday, May 7th. Finally, Piper Sandler upgraded B&G Foods from a “neutral” rating to an “overweight” rating and increased their target price for the company from $21.00 to $28.00 in a research report on Tuesday, May 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $20.25.

Several large investors have recently added to or reduced their stakes in BGS. Lindbrook Capital LLC lifted its position in shares of B&G Foods by 674.4% during the 1st quarter. Lindbrook Capital LLC now owns 1,541 shares of the company’s stock valued at $28,000 after acquiring an additional 1,342 shares during the period. ERTS Wealth Advisors LLC acquired a new position in shares of B&G Foods during the 4th quarter valued at $54,000. Ancora Advisors LLC acquired a new position in shares of B&G Foods during the 4th quarter valued at $35,000. Parallel Advisors LLC lifted its position in shares of B&G Foods by 1,414.1% during the 1st quarter. Parallel Advisors LLC now owns 2,044 shares of the company’s stock valued at $36,000 after acquiring an additional 1,909 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of B&G Foods by 281.2% during the 1st quarter. Versant Capital Management Inc now owns 2,192 shares of the company’s stock valued at $39,000 after acquiring an additional 1,617 shares during the period. Institutional investors own 75.93% of the company’s stock.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.

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