B&G Foods (NYSE:BGS) Stock Price Up 7.1% - Should You Buy?

B&G Foods, Inc. (NYSE:BGS - Get Free Report)'s stock price was up 7.1% on Monday . The stock traded as high as $6.76 and last traded at $6.90. Approximately 599,537 shares traded hands during trading, a decline of 55% from the average daily volume of 1,339,280 shares. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price objective on B&G Foods from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $8.10.

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 stock's 50 day moving average price is $6.66 and its two-hundred day moving average price is $7.27. The firm has a market capitalization of $537.82 million, a price-to-earnings ratio of -20.04 and a beta of 0.47.

B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued 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 11.18%. B&G Foods's dividend payout ratio (DPR) is currently -23.90%.

Institutional Trading of B&G Foods

Several large investors have recently made changes to their positions in BGS. Dimensional Fund Advisors LP lifted its holdings in B&G Foods by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock worth $23,106,000 after purchasing an additional 744,898 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of B&G Foods by 13.7% in the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company's stock worth $15,342,000 after buying an additional 267,455 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of B&G Foods by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company's stock worth $12,468,000 after buying an additional 5,646 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of B&G Foods by 55.7% during the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock worth $7,805,000 after buying an additional 405,033 shares during the period. Finally, Northern Trust Corp grew its stake in B&G Foods by 10.0% in the 4th quarter. Northern Trust Corp now owns 872,186 shares of the company's stock valued at $6,009,000 after buying an additional 79,226 shares during the last quarter. Institutional investors 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.