B&G Foods (NYSE:BGS) Trading Up 3.7% – Here’s What Happened

B&G Foods, Inc. (NYSE:BGS) shot up 3.7% during trading on Tuesday . The company traded as high as $8.48 and last traded at $8.43. 227,647 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,019,735 shares. The stock had previously closed at $8.13.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BGS shares. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. Barclays cut their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Piper Sandler reduced their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.67.

B&G Foods Stock Up 1.4 %

The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.48 and a current ratio of 1.63. The firm’s 50-day moving average is $8.57 and its 200 day moving average is $9.08. The firm has a market capitalization of $686.95 million, a PE ratio of -5.95 and a beta of 0.60.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The business had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. During the same period in the prior year, the business earned $0.15 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, research analysts forecast that B&G Foods, Inc. will post 0.74 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 8.75%. B&G Foods’s dividend payout ratio is currently -52.78%.

Insider Buying and Selling

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the company’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 directly owns 66,095 shares in the company, valued at approximately $550,571.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of B&G Foods by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after purchasing an additional 1,190,116 shares during the period. Empowered Funds LLC increased its stake in shares of B&G Foods by 52.4% during the 1st quarter. Empowered Funds LLC now owns 277,940 shares of the company’s stock valued at $3,180,000 after acquiring an additional 95,580 shares during the last quarter. Dana Investment Advisors Inc. lifted its holdings in shares of B&G Foods by 23.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after acquiring an additional 134,937 shares during the period. SG Americas Securities LLC boosted its position in shares of B&G Foods by 36.7% in the first 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 during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in B&G Foods in the second quarter valued at approximately $958,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.