B&G Foods, Inc. (NYSE:BGS) Short Interest Up 31.2% in November

B&G Foods, Inc. (NYSE:BGS) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 10,210,000 shares, an increase of 31.2% from the October 31st total of 7,780,000 shares. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is presently 8.6 days.

Insider Buying and Selling

In related news, EVP Andrew D. Vogel purchased 7,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $6.36 per share, with a total value of $47,700.00. Following the transaction, the executive vice president now directly owns 37,064 shares of the company’s stock, valued at $235,727.04. This trade represents a 25.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric H. Hart acquired 5,000 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased 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 $555,618.75. The trade was a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 90,111 shares of company stock valued at $593,054. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after purchasing an additional 4,624 shares during the last quarter. American International Group Inc. raised its holdings in B&G Foods by 7.5% in the 1st quarter. American International Group Inc. now owns 41,985 shares of the company’s stock valued at $480,000 after buying an additional 2,934 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in B&G Foods by 7.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock worth $628,000 after buying an additional 3,979 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in B&G Foods in the 1st quarter valued at approximately $184,000. Finally, California State Teachers Retirement System raised its stake in shares of B&G Foods by 3.2% during the first quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock valued at $898,000 after acquiring an additional 2,466 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Stock Performance

Shares of BGS opened at $6.68 on Monday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. B&G Foods has a 52-week low of $6.12 and a 52-week high of $11.97. The firm has a market cap of $528.79 million, a price-to-earnings ratio of -19.65 and a beta of 0.61. The business’s fifty day moving average is $7.82 and its 200-day moving average is $8.33.

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

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

BGS has been the subject of a number of recent analyst reports. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Evercore ISI cut their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research report on Wednesday, August 7th. Barclays decreased their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, TD Cowen dropped their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.30.

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.