B&G Foods (NYSE:BGS) Shares Up 3.1% - Here's What Happened

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) traded up 3.1% on Friday . The stock traded as high as $7.08 and last traded at $7.12. 370,479 shares were traded during trading, a decline of 70% from the average session volume of 1,255,701 shares. The stock had previously closed at $6.90.

Analyst Upgrades and Downgrades

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

B&G Foods Trading Down 3.5 %

The company has a market cap of $522.31 million, a PE ratio of -19.41 and a beta of 0.47. The company's 50 day simple moving average is $6.64 and its two-hundred day simple moving average is $7.33. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49.

B&G Foods (NYSE:BGS - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $551.57 million during the quarter, compared to analysts' expectations of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. As a group, sell-side analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current fiscal 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. Shareholders of record on Monday, March 31st will be paid a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 11.52%. B&G Foods's dividend payout ratio is currently -23.90%.

Institutional Trading of B&G Foods

Large investors have recently made changes to their positions in the company. Intech Investment Management LLC raised its stake in B&G Foods by 87.8% during the 3rd quarter. Intech Investment Management LLC now owns 47,056 shares of the company's stock valued at $418,000 after acquiring an additional 22,003 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of B&G Foods by 140.3% in the third quarter. Quantbot Technologies LP now owns 75,441 shares of the company's stock valued at $670,000 after purchasing an additional 44,041 shares during the period. FMR LLC raised its stake in shares of B&G Foods by 67.5% during the third quarter. FMR LLC now owns 161,345 shares of the company's stock worth $1,433,000 after purchasing an additional 65,011 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of B&G Foods by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,926 shares of the company's stock worth $1,731,000 after purchasing an additional 3,879 shares during the period. Finally, Verition Fund Management LLC grew its position in B&G Foods by 3,480.9% in the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company's stock valued at $3,369,000 after buying an additional 368,799 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

About B&G Foods

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.