B&G Foods (NYSE:BGS) Sees Strong Trading Volume - Time to Buy?

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) saw unusually-high trading volume on Monday . Approximately 925,666 shares changed hands during trading, a decline of 16% from the previous session's volume of 1,107,587 shares.The stock last traded at $7.71 and had previously closed at $6.88.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore ISI dropped their price objective on B&G Foods from $10.00 to $9.00 and set an "in-line" rating on the stock in a research report on Wednesday, November 6th. TD Cowen reduced their price target on shares of B&G Foods from $8.00 to $7.50 and set a "sell" rating for the company in a research note on Wednesday, November 6th. Barclays reduced their price objective on B&G Foods from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com raised B&G Foods from a "sell" rating to a "hold" rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, B&G Foods presently has an average rating of "Hold" and a consensus target price of $8.30.

B&G Foods Price Performance

The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $612.70 million, a PE ratio of -23.50 and a beta of 0.54. The firm's 50 day simple moving average is $7.58 and its 200 day simple moving average is $8.24.

B&G Foods (NYSE:BGS - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.13 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 for the quarter, compared to the consensus estimate of $473.82 million. During the same period in the prior year, the company posted $0.27 EPS. The company's quarterly revenue was down 8.3% compared to the same quarter last year. As a group, research analysts anticipate that B&G Foods, Inc. will post 0.71 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 9.82%. B&G Foods's dividend payout ratio (DPR) is currently -223.52%.

Insider Buying and Selling at B&G Foods

In related news, Director Stephen Sherrill bought 70,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now owns 353,084 shares of the company's stock, valued at $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew D. Vogel purchased 7,500 shares of B&G Foods stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $6.36 per share, with a total value of $47,700.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders bought a total of 90,111 shares of company stock valued at $593,054 in the last ninety days. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of B&G Foods

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in B&G Foods during the 2nd quarter worth approximately $33,000. Innealta Capital LLC acquired a new stake in shares of B&G Foods during the second quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of B&G Foods during the third quarter valued at $102,000. CWM LLC increased its position in shares of B&G Foods by 99.9% in the 2nd quarter. CWM LLC now owns 14,469 shares of the company's stock valued at $117,000 after acquiring an additional 7,231 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in B&G Foods in the 2nd quarter worth $137,000. Institutional investors and hedge funds 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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