B&G Foods (NYSE:BGS) Stock Price Up 0.3% – Here’s Why

B&G Foods, Inc. (NYSE:BGS)’s stock price shot up 0.3% during trading on Monday . The company traded as high as $7.86 and last traded at $7.85. 191,313 shares traded hands during trading, a decline of 83% from the average session volume of 1,128,937 shares. The stock had previously closed at $7.83.

Wall Street Analysts Forecast Growth

BGS has been the topic of a number of recent analyst reports. Evercore ISI cut 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 report on Wednesday, November 6th. Barclays lowered their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, TD Cowen decreased their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.30.

B&G Foods Stock Performance

The firm has a market capitalization of $577.11 million, a P/E ratio of -21.44 and a beta of 0.54. The company has a 50-day simple moving average of $7.47 and a two-hundred day simple moving average of $8.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts forecast that B&G Foods, Inc. will post 0.73 EPS for the current 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 paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.43%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is currently -223.53%.

Insider Buying and Selling at B&G Foods

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

Institutional Trading of B&G Foods

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of B&G Foods in the second quarter worth approximately $33,000. nVerses Capital LLC bought a new stake in B&G Foods in the 2nd quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in B&G Foods during the 3rd quarter valued at $102,000. Canada Pension Plan Investment Board bought a new position in shares of B&G Foods during the 2nd quarter valued at $137,000. Finally, PFG Investments LLC boosted its stake in shares of B&G Foods by 12.5% in the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after buying an additional 2,008 shares during the last quarter. 66.15% of the stock is currently owned by hedge funds and other 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.