B&G Foods (NYSE:BGS) Trading 3.7% Higher – Time to Buy?

B&G Foods, Inc. (NYSE:BGS) shares rose 3.7% on Tuesday . The stock traded as high as $8.48 and last traded at $8.43. Approximately 227,647 shares were traded during trading, a decline of 78% from the average daily volume of 1,019,735 shares. The stock had previously closed at $8.13.

Analyst Upgrades and Downgrades

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

B&G Foods Stock Performance

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 price is $8.57 and its two-hundred day moving average price is $9.08. The stock has a market cap of $686.95 million, a price-to-earnings 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. The firm had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. On average, analysts expect that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Announces Dividend

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

Insider Activity

In related news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the completion of the sale, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. This trade 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. Insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

Several hedge funds have recently made changes to their positions in the business. nVerses Capital LLC grew its stake in shares of B&G Foods by 34.1% in the third quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after acquiring an additional 1,400 shares in the last quarter. Creative Planning grew its stake in B&G Foods by 94.5% during the 3rd quarter. Creative Planning now owns 37,744 shares of the company’s stock worth $335,000 after purchasing an additional 18,340 shares in the last quarter. Gilman Hill Asset Management LLC increased its holdings in B&G Foods by 5.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company’s stock worth $5,652,000 after purchasing an additional 34,768 shares during the period. SG Americas Securities LLC raised its position in B&G Foods by 56.0% in the 3rd quarter. SG Americas Securities LLC now owns 39,718 shares of the company’s stock valued at $353,000 after purchasing an additional 14,256 shares in the last quarter. Finally, Dana Investment Advisors Inc. boosted its stake 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 buying an additional 134,937 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

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.