B&G Foods (NYSE:BGS) Trading Up 3.2% – What’s Next?

B&G Foods, Inc. (NYSE:BGS)’s share price was up 3.2% on Tuesday . The stock traded as high as $6.86 and last traded at $6.86. Approximately 294,553 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,682,194 shares. The stock had previously closed at $6.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BGS shares. TD Cowen reduced their price objective 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. Evercore ISI dropped their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. Piper Sandler decreased their price objective on B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Barclays lowered their price objective 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. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.10.

B&G Foods Trading Up 0.5 %

The firm has a market capitalization of $528.25 million, a P/E ratio of -19.66 and a beta of 0.50. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The firm has a 50 day moving average of $6.56 and a 200-day moving average of $7.46.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share 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 firm had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. On average, equities research analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.39%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its stake in B&G Foods by 94.5% during the third quarter. Creative Planning now owns 37,744 shares of the company’s stock worth $335,000 after purchasing an additional 18,340 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of B&G Foods by 47.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 104,459 shares of the company’s stock worth $947,000 after buying an additional 33,712 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of B&G Foods by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock worth $2,258,000 after buying an additional 4,240 shares during the last quarter. Versor Investments LP lifted its position in shares of B&G Foods by 13.4% during the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after buying an additional 2,862 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in B&G Foods by 5.4% in the third quarter. Empowered Funds LLC now owns 315,620 shares of the company’s stock valued at $2,803,000 after buying an additional 16,080 shares in the last quarter. 66.15% of the stock is owned by institutional investors.

B&G Foods Company Profile

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.