By otakuyassine3@gmail.com 
B&G Foods, Inc. (NYSE:BGS – Get Free Report)’s stock price traded up 0.3% during mid-day trading on Monday . The company traded as high as $7.86 and last traded at $7.85. 191,313 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,128,937 shares. The stock had previously closed at $7.83.
Wall Street Analysts Forecast Growth
BGS has been the subject of a number of analyst reports. Evercore ISI reduced their price target 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. TD Cowen reduced 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. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Barclays reduced their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.30.
Get Our Latest Analysis on BGS
B&G Foods Trading Down 2.2 %
The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The company has a market capitalization of $606.40 million, a price-to-earnings ratio of -23.09 and a beta of 0.54. The business has a fifty day moving average price of $7.48 and a 200 day moving average price of $8.17.
B&G Foods (NYSE:BGS – Get Free Report) last issued its quarterly 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). 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 during the quarter, compared to the consensus estimate of $473.82 million. During the same period last year, the company earned $0.27 earnings per share. B&G Foods’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.
B&G Foods Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 9.92%. B&G Foods’s dividend payout ratio (DPR) is -223.53%.
Insider Transactions at B&G Foods
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 cost of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the transaction, the executive vice president now directly owns 37,064 shares of the company’s stock, valued at approximately $235,727.04. The trade was a 25.37 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric H. Hart acquired 5,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $6.25 per share, with a total value of $31,250.00. Following the completion of the purchase, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at approximately $555,618.75. This represents a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 90,111 shares of company stock valued at $593,054. 3.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On B&G Foods
Several large investors have recently made changes to their positions in BGS. Cetera Advisors LLC bought a new stake in B&G Foods during the first quarter worth about $202,000. CWM LLC increased its holdings in B&G Foods by 99.9% during the 2nd quarter. CWM LLC now owns 14,469 shares of the company’s stock valued at $117,000 after purchasing an additional 7,231 shares in the last quarter. SG Americas Securities LLC raised its position in B&G Foods by 47.8% in the 2nd quarter. SG Americas Securities LLC now owns 25,462 shares of the company’s stock valued at $206,000 after purchasing an additional 8,231 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in B&G Foods by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock worth $450,000 after purchasing an additional 1,636 shares in the last quarter. Finally, Cove Private Wealth LLC bought a new stake in shares of B&G Foods during the second quarter worth $929,000. 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.
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