B&G Foods (NYSE:BGS) Trading Up 1.1% – Should You Buy?

Shares of B&G Foods, Inc. (NYSE:BGS) shot up 1.1% during mid-day trading on Wednesday . The stock traded as high as $6.43 and last traded at $6.43. 149,915 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,088,531 shares. The stock had previously closed at $6.36.

Wall Street Analyst Weigh In

BGS has been the subject of a number of research analyst reports. Evercore ISI reduced their target price 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. Barclays reduced their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. 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. Finally, TD Cowen dropped their price objective on shares of 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. One 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 stock has a consensus rating of “Hold” and an average price target of $8.30.

B&G Foods Stock Down 1.1 %

The firm’s fifty day simple moving average is $8.21 and its two-hundred day simple moving average is $8.50. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $497.92 million, a price-to-earnings ratio of -18.91 and a beta of 0.61.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data 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). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue was down 8.3% on a year-over-year basis. Sell-side analysts anticipate that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 12.08%. B&G Foods’s payout ratio is currently -223.52%.

Insider Activity

In related news, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 owns 353,084 shares of the company’s stock, valued at $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott E. Lerner bought 7,611 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $6.57 per share, with a total value of $50,004.27. Following the completion of the acquisition, the executive vice president now owns 196,755 shares of the company’s stock, valued at $1,292,680.35. This trade represents a 4.02 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 90,111 shares of company stock valued at $593,054. Company insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

A number of large investors have recently made changes to their positions in the company. Dana Investment Advisors Inc. increased its position in shares of B&G Foods by 23.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after purchasing an additional 134,937 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in B&G Foods in the second quarter valued at $958,000. SG Americas Securities LLC boosted its position in shares of B&G Foods by 36.7% during the 1st quarter. SG Americas Securities LLC now owns 17,231 shares of the company’s stock worth $197,000 after acquiring an additional 4,623 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of B&G Foods by 16.1% in the 1st quarter. ProShare Advisors LLC now owns 15,697 shares of the company’s stock valued at $180,000 after acquiring an additional 2,180 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of B&G Foods by 3.2% during the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock worth $898,000 after acquiring an additional 2,466 shares in 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.