B&G Foods (NYSE:BGS) Shares Up 1.2% – Here’s What Happened

B&G Foods, Inc. (NYSE:BGS)’s stock price rose 1.2% during trading on Monday . The stock traded as high as $6.84 and last traded at $6.76. Approximately 253,597 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,096,514 shares. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BGS shares. Evercore ISI decreased their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th. Barclays lowered their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.30.

B&G Foods Stock Performance

The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock has a market cap of $543.04 million, a P/E ratio of -20.12 and a beta of 0.61. The firm’s 50-day moving average is $7.82 and its two-hundred day moving average is $8.33.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The business had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. As a group, research analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.08%. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Insider Activity

In other B&G Foods news, EVP Eric H. Hart purchased 5,000 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $6.25 per share, with a total value of $31,250.00. Following the completion of the transaction, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. This trade represents a 5.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. The trade was a 24.73 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 90,111 shares of company stock valued at $593,054. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of B&G Foods by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock valued at $628,000 after acquiring an additional 3,979 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in B&G Foods in the 1st quarter valued at $184,000. California State Teachers Retirement System grew its position in B&G Foods by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock worth $898,000 after purchasing an additional 2,466 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of B&G Foods during the 1st quarter worth about $202,000. Finally, Versant Capital Management Inc raised its position in shares of B&G Foods by 36.9% during the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after buying an additional 1,555 shares during the last quarter. 66.15% of the stock is owned by institutional investors.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.