B&G Foods (NYSE:BGS) Shares Up 16.1% – Still a Buy?

Shares of B&G Foods, Inc. (NYSE:BGS) shot up 16.1% during trading on Monday . The stock traded as high as $8.10 and last traded at $7.99. 1,974,363 shares were traded during mid-day trading, an increase of 77% from the average session volume of 1,113,283 shares. The stock had previously closed at $6.88.

Wall Street Analyst Weigh In

Several brokerages recently commented on BGS. Barclays decreased their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report 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. Finally, Evercore ISI cut their price objective on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, B&G Foods presently has a consensus rating of “Hold” and an average price target of $8.30.

B&G Foods Trading Down 0.5 %

The company has a market cap of $602.44 million, a P/E ratio of -22.53 and a beta of 0.54. 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 business has a 50-day moving average price of $7.53 and a two-hundred day moving average price of $8.21.

B&G Foods (NYSE:BGS) last released its earnings results 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 positive return on equity of 6.97% and a negative net margin of 1.34%. The company’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, analysts predict that B&G Foods, Inc. will post 0.71 EPS 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 issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 9.99%. B&G Foods’s dividend payout ratio is presently -223.53%.

Insider Activity at B&G Foods

In other B&G Foods news, Director Stephen Sherrill bought 70,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $6.63 per share, with a total value of $464,100.00. Following the completion of the purchase, the director now owns 353,084 shares in the company, valued at approximately $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott E. Lerner purchased 7,611 shares of the stock in a transaction on Friday, November 8th. The stock was acquired 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 directly owns 196,755 shares of the company’s stock, valued at approximately $1,292,680.35. This represents a 4.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 90,111 shares of company stock worth $593,054. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On B&G Foods

Large investors have recently modified their holdings of the business. Innealta Capital LLC bought a new position in B&G Foods in the second quarter valued at approximately $33,000. nVerses Capital LLC acquired a new stake in shares of B&G Foods in the second quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of B&G Foods in the third quarter valued at approximately $102,000. CWM LLC lifted its position in shares of B&G Foods by 99.9% in the second quarter. CWM LLC now owns 14,469 shares of the company’s stock valued at $117,000 after buying an additional 7,231 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of B&G Foods in the second quarter valued at approximately $137,000. 66.15% of the stock is currently owned by 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.