B&G Foods (NYSE:BGS) Trading Up 1.2% – Should You Buy?

B&G Foods, Inc. (NYSE:BGS)’s stock price rose 1.2% during trading on Monday . The stock traded as high as $6.70 and last traded at $6.62. Approximately 245,704 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,094,306 shares. The stock had previously closed at $6.54.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BGS shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI decreased 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. Barclays lowered their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, TD Cowen lowered their price target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, B&G Foods currently has a consensus rating of “Hold” and a consensus target price of $8.30.

B&G Foods Stock Up 2.6 %

The business has a 50-day moving average price of $8.07 and a 200-day moving average price of $8.40. The stock has a market cap of $531.19 million, a PE ratio of -19.47 and a beta of 0.61. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same period in the previous year, the business earned $0.27 earnings per share. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, analysts forecast that B&G Foods, Inc. will post 0.73 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.33%. B&G Foods’s dividend payout ratio (DPR) is presently -223.53%.

Insider Transactions at B&G Foods

In other B&G Foods news, EVP Andrew D. Vogel purchased 7,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $6.36 per share, with a total value of $47,700.00. Following the completion of the purchase, the executive vice president now owns 37,064 shares in the company, valued at approximately $235,727.04. This represents a 25.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen Sherrill bought 70,000 shares of the stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders have bought 90,111 shares of company stock valued at $593,054 over the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in B&G Foods by 310.1% during the third quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after purchasing an additional 98,824 shares during the period. Geode Capital Management LLC increased its holdings in shares of B&G Foods by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock worth $16,018,000 after buying an additional 24,995 shares during the last quarter. Stifel Financial Corp raised its position in shares of B&G Foods by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock valued at $1,612,000 after buying an additional 3,359 shares during the period. Point72 Asset Management L.P. acquired a new position in B&G Foods in the third quarter valued at approximately $962,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in B&G Foods in the third quarter worth approximately $102,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

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.