B&G Foods (NYSE:BGS) Shares Up 0.3% - Time to Buy?

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) rose 0.3% on Monday . The stock traded as high as $7.86 and last traded at $7.85. Approximately 191,313 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,128,937 shares. The stock had previously closed at $7.83.

Wall Street Analyst Weigh In

Several research analysts recently commented on BGS shares. Evercore ISI decreased their target price on shares of B&G Foods from $10.00 to $9.00 and set an "in-line" rating on the stock in a research note on Wednesday, November 6th. Barclays decreased their price objective on shares of 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 upgraded shares of B&G Foods from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. Finally, TD Cowen reduced their price target on 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 research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.30.

B&G Foods Stock Performance

The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The company's 50-day moving average price is $7.47 and its 200 day moving average price is $8.16. The stock has a market capitalization of $607.19 million, a PE ratio of -22.56 and a beta of 0.54.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $461.10 million during the quarter, compared to analysts' expectations of $473.82 million. During the same quarter last year, the business earned $0.27 earnings per share. The business's quarterly revenue was down 8.3% on a year-over-year basis. On average, equities research analysts expect that B&G Foods, Inc. will post 0.73 earnings per share 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. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.91%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods's dividend payout ratio is currently -223.53%.

Insider Activity

In related news, Director Stephen Sherrill purchased 70,000 shares of the business's stock in a transaction that occurred on 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 purchase, the director now directly owns 353,084 shares of the company's stock, valued at approximately $2,340,946.92. This represents a 24.73 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric H. Hart acquired 5,000 shares of the 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 purchase, the executive vice president now directly owns 88,899 shares of the company's stock, valued at $555,618.75. The trade was a 5.96 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 90,111 shares of company stock worth $593,054. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of B&G Foods

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company's stock worth $13,254,000 after buying an additional 682,688 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in B&G Foods by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company's stock worth $15,501,000 after acquiring an additional 485,714 shares during the last quarter. AQR Capital Management LLC lifted its position in B&G Foods by 154.0% in the 2nd quarter. AQR Capital Management LLC now owns 626,807 shares of the company's stock valued at $5,065,000 after acquiring an additional 380,054 shares in the last quarter. Verition Fund Management LLC boosted its stake in B&G Foods by 3,480.9% during the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company's stock valued at $3,369,000 after purchasing an additional 368,799 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. increased its holdings in shares of B&G Foods by 37.5% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company's stock worth $4,268,000 after purchasing an additional 144,146 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

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.