B&G Foods (NYSE:BGS) Shares Up 5% - Here's What Happened

B&G Foods, Inc. (NYSE:BGS - Get Free Report)'s share price rose 5% during trading on Monday . The company traded as high as $8.06 and last traded at $8.04. Approximately 991,899 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,801,467 shares. The stock had previously closed at $7.65.

Wall Street Analysts Forecast Growth

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

B&G Foods Price 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 business has a 50 day simple moving average of $6.58 and a 200-day simple moving average of $7.42. The firm has a market cap of $581.03 million, a price-to-earnings ratio of -21.59 and a beta of 0.47.

B&G Foods (NYSE:BGS - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. 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 $551.57 million for the quarter, compared to analyst estimates of $547.95 million. Equities research analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

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B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 10.35%. B&G Foods's payout ratio is -23.90%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BGS. Stratos Wealth Partners LTD. increased its stake in B&G Foods by 12.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company's stock valued at $101,000 after buying an additional 1,599 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in B&G Foods by 5.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,158 shares of the company's stock valued at $215,000 after acquiring an additional 1,718 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in B&G Foods by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,463 shares of the company's stock worth $306,000 after purchasing an additional 1,900 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after buying an additional 2,658 shares in the last quarter. Finally, Versor Investments LP lifted its stake in B&G Foods by 13.4% in the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company's stock worth $216,000 after purchasing an additional 2,862 shares in the last quarter. 66.15% of the stock is owned by institutional investors.

B&G Foods Company Profile

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.