Short Interest in B&G Foods, Inc. (NYSE:BGS) Expands By 31.2%

B&G Foods, Inc. (NYSE:BGS) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 10,210,000 shares, an increase of 31.2% from the October 31st total of 7,780,000 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is currently 8.6 days.

Analysts Set New Price Targets

BGS has been the subject of several recent research reports. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. TD Cowen reduced their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Evercore ISI dropped their price target on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. Barclays cut their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.30.

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $6.68 on Monday. The company’s 50-day moving average price is $7.82 and its 200-day moving average price is $8.33. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods has a 12-month low of $6.12 and a 12-month high of $11.97. The company has a market cap of $528.79 million, a price-to-earnings ratio of -19.65 and a beta of 0.61.

B&G Foods (NYSE:BGS) last posted its 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). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. During the same period last year, the company posted $0.27 EPS. The business’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts expect that B&G Foods will post 0.73 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.38%. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Insiders Place Their Bets

In related news, EVP Eric H. Hart purchased 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the purchase, the executive vice president now directly owns 88,899 shares in the company, valued at approximately $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 the SEC website. Also, EVP Andrew D. Vogel acquired 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the purchase, the executive vice president now owns 37,064 shares of the company’s stock, valued at $235,727.04. The trade was a 25.37 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 90,111 shares of company stock valued at $593,054. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On B&G Foods

Large investors have recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. raised its holdings in shares of B&G Foods by 23.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after acquiring an additional 134,937 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of B&G Foods in the second quarter worth approximately $958,000. California State Teachers Retirement System raised its stake in B&G Foods by 3.2% in the first quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock valued at $898,000 after purchasing an additional 2,466 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in B&G Foods by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock valued at $628,000 after purchasing an additional 3,979 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. grew its stake in B&G Foods by 37.5% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after buying an additional 144,146 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Company Profile

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.