B&G Foods (NYSE:BGS) Trading Up 3% – Should You Buy?

Shares of B&G Foods, Inc. (NYSE:BGS) rose 3% on Wednesday . The stock traded as high as $6.66 and last traded at $6.63. Approximately 246,529 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,097,985 shares. The stock had previously closed at $6.44.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays reduced their price objective 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 note on Thursday, September 26th. TD Cowen cut their price objective 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. Evercore ISI decreased their target price on 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.30.

B&G Foods Trading Up 3.7 %

The company has a 50-day moving average price of $7.87 and a two-hundred day moving average price of $8.35. The stock has a market cap of $528.79 million, a P/E ratio of -19.65 and a beta of 0.61. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The company’s revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. On average, research analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm 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 dividend of $0.19 per share. The ex-dividend date 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 presently -223.52%.

Insider Activity

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares of the company’s stock, valued at $550,571.35. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Eric H. Hart bought 5,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the purchase, the executive vice president now directly owns 88,899 shares in the company, valued at approximately $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 90 days, insiders have acquired 90,111 shares of company stock valued at $593,054. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On B&G Foods

Hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of B&G Foods in the 2nd quarter worth $33,000. nVerses Capital LLC purchased a new stake in shares of B&G Foods during the 2nd quarter worth $33,000. Versant Capital Management Inc lifted its stake in shares of B&G Foods by 36.9% during the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after purchasing an additional 1,555 shares during the last quarter. Russell Investments Group Ltd. increased its position in B&G Foods by 1,556.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after buying an additional 4,624 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in B&G Foods during the 1st quarter valued at about $60,000. 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.