B&G Foods (NYSE:BGS) Stock Price Up 1.2% – What’s Next?

B&G Foods, Inc. (NYSE:BGS)’s share price was up 1.2% during trading on Monday . The stock traded as high as $6.70 and last traded at $6.62. Approximately 245,704 shares changed hands during trading, a decline of 78% from the average daily volume of 1,094,306 shares. The stock had previously closed at $6.54.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research note on Wednesday, August 7th. 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 report on Wednesday, November 6th. Barclays dropped 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 report on Thursday, November 7th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, TD Cowen cut their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, B&G Foods has an average rating of “Hold” and an average target price of $8.30.

B&G Foods Stock Up 3.8 %

The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The stock’s fifty day simple moving average is $7.97 and its two-hundred day simple moving average is $8.38. The company has a market capitalization of $529.18 million, a price-to-earnings ratio of -19.50 and a beta of 0.61.

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

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.37%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is -223.52%.

Insider Transactions at B&G Foods

In other B&G Foods news, Director Stephen Sherrill bought 70,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $6.63 per share, with a total value of $464,100.00. Following the completion of the transaction, the director now directly owns 353,084 shares in the company, valued at approximately $2,340,946.92. This represents a 24.73 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 90,111 shares of company stock valued at $593,054 over the last three months. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On B&G Foods

A number of institutional investors have recently bought and sold shares of BGS. American Century Companies Inc. increased its stake in shares of B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after acquiring an additional 682,688 shares during the last quarter. Dimensional Fund Advisors LP increased its position in B&G Foods by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after purchasing an additional 485,714 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of B&G Foods by 154.0% during the 2nd quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock worth $5,065,000 after purchasing an additional 380,054 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of B&G Foods by 3,480.9% during the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after buying an additional 368,799 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. grew its stake in shares of 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 valued at $4,268,000 after buying an additional 144,146 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.