Investors Purchase High Volume of B&G Foods Call Options (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS) saw some unusual options trading activity on Monday. Stock investors bought 9,058 call options on the stock. This represents an increase of approximately 200% compared to the typical volume of 3,019 call options.

A number of hedge funds and other institutional investors have recently made changes to their positions in BGS. Lindbrook Capital LLC boosted its stake in B&G Foods by 674.4% in the 1st quarter. Lindbrook Capital LLC now owns 1,541 shares of the company’s stock worth $28,000 after purchasing an additional 1,342 shares during the period. Ancora Advisors LLC acquired a new position in B&G Foods in the 4th quarter worth $35,000. Parallel Advisors LLC boosted its stake in B&G Foods by 1,414.1% in the 1st quarter. Parallel Advisors LLC now owns 2,044 shares of the company’s stock worth $36,000 after purchasing an additional 1,909 shares during the period. Versant Capital Management Inc boosted its stake in B&G Foods by 281.2% in the 1st quarter. Versant Capital Management Inc now owns 2,192 shares of the company’s stock worth $39,000 after purchasing an additional 1,617 shares during the period. Finally, Ameritas Investment Company LLC boosted its stake in B&G Foods by 4,047.2% in the 1st quarter. Ameritas Investment Company LLC now owns 2,198 shares of the company’s stock worth $39,000 after purchasing an additional 2,145 shares during the period. 75.93% of the stock is owned by hedge funds and other institutional investors.

Shares of BGS stock opened at $24.46 on Wednesday. B&G Foods has a 12-month low of $10.39 and a 12-month high of $26.39. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 17.99 and a beta of 0.25. The company has a quick ratio of 1.78, a current ratio of 3.69 and a debt-to-equity ratio of 2.52. The firm has a fifty day moving average of $23.75 and a 200-day moving average of $18.48.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. B&G Foods had a net margin of 5.17% and a return on equity of 12.82%. The company had revenue of $449.37 million during the quarter, compared to analyst estimates of $431.04 million. During the same quarter in the previous year, the business earned $0.44 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. Research analysts expect that B&G Foods will post 2.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Tuesday, June 30th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend is Monday, June 29th. B&G Foods’s payout ratio is presently 115.85%.

Several analysts have commented on the stock. ValuEngine cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, April 7th. DA Davidson assumed coverage on shares of B&G Foods in a research report on Thursday, June 11th. They set a “neutral” rating for the company. Barclays reiterated a “neutral” rating on shares of B&G Foods in a research report on Thursday, May 7th. Jefferies Financial Group assumed coverage on shares of B&G Foods in a research report on Thursday, May 28th. They set a “hold” rating and a $19.00 target price for the company. Finally, Royal Bank of Canada assumed coverage on shares of B&G Foods in a research report on Thursday, June 11th. They set a “sector perform” rating and a $27.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. B&G Foods has an average rating of “Hold” and a consensus price target of $20.25.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.

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