B&G Foods (NYSE:BGS) Trading Up 6.3% - What's Next?

B&G Foods, Inc. (NYSE:BGS - Get Free Report)'s share price rose 6.3% during mid-day trading on Thursday . The company traded as high as $6.45 and last traded at $6.51. Approximately 216,081 shares traded hands during trading, a decline of 85% from the average daily volume of 1,420,583 shares. The stock had previously closed at $6.12.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price target 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 research analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $8.10.

B&G Foods Price Performance

The company has a market capitalization of $561.56 million, a PE ratio of -20.87 and a beta of 0.74. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The stock has a fifty day simple moving average of $6.68 and a 200-day simple moving average of $6.97.

B&G Foods (NYSE:BGS - Get Free Report) last announced 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. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The company had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. Equities analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.71%. B&G Foods's dividend payout ratio (DPR) is presently -23.90%.

Institutional Investors Weigh In On B&G Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BGS. PNC Financial Services Group Inc. increased its holdings in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock valued at $55,000 after acquiring an additional 2,658 shares during the period. Independent Wealth Network Inc. purchased a new stake in shares of B&G Foods in the fourth quarter valued at about $77,000. SBI Securities Co. Ltd. acquired a new position in B&G Foods in the 4th quarter valued at about $79,000. Regent Peak Wealth Advisors LLC purchased a new stake in B&G Foods during the 4th quarter valued at approximately $81,000. Finally, Prism Advisors Inc. acquired a new stake in B&G Foods during the 4th quarter worth approximately $82,000. Hedge funds and other 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.