B&G Foods (NYSE:BGS) Trading Up 3.1% - Still a Buy?

B&G Foods, Inc. (NYSE:BGS - Get Free Report)'s stock price shot up 3.1% during trading on Friday . The company traded as high as $7.08 and last traded at $7.12. 370,479 shares changed hands 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 Ratings Changes

Separately, Piper Sandler reduced their target price on shares of 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, B&G Foods presently has a consensus rating of "Hold" and a consensus target price of $8.10.

B&G Foods Stock Down 0.2 %

The stock's fifty day moving average price is $6.64 and its 200-day moving average price is $7.33. 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 $540.12 million, a price-to-earnings ratio of -20.07 and a beta of 0.47.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm 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%. On average, sell-side analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

Remove Ads

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 11.14%. B&G Foods's dividend payout ratio (DPR) is presently -23.90%.

Hedge Funds Weigh In On B&G Foods

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dana Investment Advisors Inc. boosted its stake in B&G Foods by 20.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock valued at $5,269,000 after purchasing an additional 129,202 shares during the period. Barclays PLC raised its stake in B&G Foods by 310.1% in the third quarter. Barclays PLC now owns 130,693 shares of the company's stock valued at $1,160,000 after purchasing an additional 98,824 shares in the last quarter. Verition Fund Management LLC grew its stake in B&G Foods by 3,480.9% during the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company's stock worth $3,369,000 after buying an additional 368,799 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of B&G Foods in the 4th quarter valued at approximately $857,000. Finally, Principal Financial Group Inc. raised its holdings in shares of B&G Foods by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company's stock worth $2,644,000 after buying an additional 10,742 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company's stock.

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.