B&G Foods (NYSE:BGS) Stock Price Up 1.2% – Here’s Why

Shares of B&G Foods, Inc. (NYSE:BGS) shot up 1.2% during mid-day trading on Friday . The stock traded as high as $6.79 and last traded at $6.76. 183,533 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,098,261 shares. The stock had previously closed at $6.68.

Analyst Ratings Changes

A number of equities research analysts recently commented on BGS shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research report on Wednesday, August 7th. TD Cowen lowered their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Barclays reduced their price target on shares of 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 upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Evercore ISI reduced their target price 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. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.30.

B&G Foods Price Performance

The stock has a market cap of $528.79 million, a P/E ratio of -19.88 and a beta of 0.61. The company’s fifty day moving average price is $7.87 and its 200-day moving average price is $8.35. 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 announced its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.38%. B&G Foods’s dividend payout ratio (DPR) is -223.52%.

Insider Transactions at B&G Foods

In other B&G Foods news, EVP Andrew D. Vogel acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the executive vice president now owns 37,064 shares in the company, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Eric H. Hart acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now owns 88,899 shares of the company’s stock, valued at $555,618.75. This trade represents a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 90,111 shares of company stock worth $593,054. Insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC raised its position in shares of B&G Foods by 34.1% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after acquiring an additional 1,400 shares in the last quarter. Versant Capital Management Inc lifted 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. Rhumbline Advisers boosted its holdings in shares of B&G Foods by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock valued at $2,010,000 after buying an additional 1,625 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of B&G Foods by 3.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock worth $450,000 after buying an additional 1,636 shares during the last quarter. Finally, PFG Investments LLC lifted its position in B&G Foods by 12.5% during the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock valued at $160,000 after acquiring an additional 2,008 shares during 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.