B&G Foods (NYSE:BGS) Shares Up 7.1% – Should You Buy?

B&G Foods, Inc. (NYSE:BGS)’s stock price rose 7.1% during trading on Monday . The stock traded as high as $6.76 and last traded at $6.90. Approximately 599,537 shares traded hands during trading, a decline of 55% from the average daily volume of 1,339,280 shares. The stock had previously closed at $6.44.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their price target on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, B&G Foods has an average rating of “Hold” and a consensus price target of $8.10.

B&G Foods Price Performance

The business has a fifty day moving average of $6.66 and a 200 day moving average of $7.27. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The stock has a market cap of $551.20 million, a PE ratio of -20.48 and a beta of 0.47.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. Sell-side analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 10.91%. B&G Foods’s payout ratio is -23.90%.

Institutional Investors Weigh In On B&G Foods

A number of institutional investors have recently modified their holdings of BGS. PharVision Advisers LLC acquired a new position in B&G Foods in the fourth quarter valued at approximately $346,000. Two Sigma Advisers LP boosted its position in B&G Foods by 279.0% during the 4th quarter. Two Sigma Advisers LP now owns 458,200 shares of the company’s stock valued at $3,157,000 after purchasing an additional 337,300 shares during the period. Two Sigma Investments LP boosted its position in B&G Foods by 113.2% during the 4th quarter. Two Sigma Investments LP now owns 830,817 shares of the company’s stock valued at $5,724,000 after purchasing an additional 441,117 shares during the period. ProShare Advisors LLC grew its stake in B&G Foods by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 23,456 shares of the company’s stock worth $162,000 after buying an additional 7,211 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in B&G Foods in the fourth quarter worth $261,000. Institutional investors own 66.15% of the company’s stock.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.