B&G Foods (NYSE:BGS) Trading 0.3% Higher – Still a Buy?

B&G Foods, Inc. (NYSE:BGS)’s share price traded up 0.3% during mid-day trading on Monday . The company traded as high as $7.86 and last traded at $7.85. 191,313 shares were traded 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

A number of equities analysts have recently issued reports on the stock. Evercore ISI cut their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 6th. 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 research note on Wednesday, November 6th. Barclays cut their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.30.

B&G Foods Trading Down 5.8 %

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 market cap of $577.11 million, a P/E ratio of -21.44 and a beta of 0.54. The firm’s 50-day simple moving average is $7.47 and its 200 day simple moving average is $8.15.

B&G Foods (NYSE:BGS) last issued 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 firm had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. As a group, analysts expect that B&G Foods, Inc. will post 0.73 earnings per share for the current year.

B&G Foods Announces Dividend

The business 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.43%. B&G Foods’s payout ratio is -223.53%.

Insider Buying and Selling at B&G Foods

In related news, EVP Andrew D. Vogel acquired 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Sherrill bought 70,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the purchase, the director now directly owns 353,084 shares of the company’s stock, valued at $2,340,946.92. This represents a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 90,111 shares of company stock valued at $593,054 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On B&G Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Verition Fund Management LLC raised its position in B&G Foods by 3,480.9% in the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock worth $3,369,000 after purchasing an additional 368,799 shares during the period. Dana Investment Advisors Inc. increased its holdings in shares of B&G Foods by 23.5% in the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after buying an additional 134,937 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of B&G Foods in the 2nd quarter valued at about $958,000. Point72 Asset Management L.P. purchased a new stake in B&G Foods during the 3rd quarter valued at about $962,000. Finally, Savoir Faire Capital Management L.P. grew its position in B&G Foods by 37.5% during the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after acquiring an additional 144,146 shares during the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

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.