B&G Foods (NYSE:BGS) Shares Up 2.2% - Here's What Happened

B&G Foods, Inc. (NYSE:BGS - Get Free Report) traded up 2.2% during mid-day trading on Tuesday . The stock traded as high as $7.84 and last traded at $7.83. 331,735 shares were traded during trading, a decline of 71% from the average session volume of 1,131,276 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

A number of research firms have issued reports on BGS. Evercore ISI lowered 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 dropped 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 research note on Wednesday, November 6th. Barclays cut their target price 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. Finally, StockNews.com raised shares of B&G Foods from a "sell" rating to a "hold" rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $8.30.

B&G Foods Price Performance

The stock's fifty day moving average price is $7.47 and its 200-day moving average price is $8.16. 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 firm has a market cap of $613.13 million, a price-to-earnings ratio of -22.82 and a beta of 0.54.

B&G Foods (NYSE:BGS - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 in the previous year, the company earned $0.27 EPS. The firm's quarterly revenue was down 8.3% compared to the same quarter last year. Equities research analysts predict that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 9.81%. B&G Foods's dividend payout ratio (DPR) is currently -223.53%.

Insider Transactions at B&G Foods

In other news, Director Stephen Sherrill acquired 70,000 shares of the stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the transaction, the director now owns 353,084 shares in the company, valued at approximately $2,340,946.92. This trade represents a 24.73 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Eric H. Hart purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $6.25 per share, with a total value of $31,250.00. Following the transaction, 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. Over the last three months, insiders bought 90,111 shares of company stock worth $593,054. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On B&G Foods

Several institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of B&G Foods in the 2nd quarter valued at $33,000. nVerses Capital LLC bought a new stake in B&G Foods in the second quarter valued at approximately $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in B&G Foods in the third quarter worth $102,000. Canada Pension Plan Investment Board acquired a new position in shares of B&G Foods in the 2nd quarter valued at $137,000. Finally, PFG Investments LLC increased its position in shares of B&G Foods by 12.5% in the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company's stock valued at $160,000 after buying an additional 2,008 shares in the last quarter. 66.15% of the stock is owned by 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.