B&G Foods, Inc. (NYSE:BGS) Short Interest Update

B&G Foods, Inc. (NYSE:BGS - Get Free Report) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 12,240,000 shares, an increase of 21.1% from the January 31st total of 10,110,000 shares. Based on an average daily volume of 1,640,000 shares, the short-interest ratio is presently 7.5 days.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price target on B&G Foods from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $8.10.

B&G Foods Stock Performance

Shares of BGS traded up $0.75 during mid-day trading on Friday, hitting $7.65. 3,974,410 shares of the company's stock were exchanged, compared to its average volume of 1,822,128. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods has a 52 week low of $5.45 and a 52 week high of $11.79. The stock's 50-day simple moving average is $6.54 and its 200-day simple moving average is $7.44. The firm has a market cap of $605.01 million, a price-to-earnings ratio of -22.48 and a beta of 0.47.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. The firm had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. On average, equities research analysts expect that B&G Foods will post 0.7 EPS for the current year.

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B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 9.94%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods's dividend payout ratio (DPR) is presently -23.90%.

Institutional Investors Weigh In On B&G Foods

Several institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock valued at $55,000 after buying an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. bought a new position in B&G Foods in the fourth quarter valued at approximately $77,000. SBI Securities Co. Ltd. acquired a new position in B&G Foods during the fourth quarter valued at approximately $79,000. Regent Peak Wealth Advisors LLC bought a new stake in B&G Foods during the fourth quarter worth $81,000. Finally, Prism Advisors Inc. acquired a new stake in shares of B&G Foods in the 4th quarter valued at $82,000. Institutional investors own 66.15% of the company's stock.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.