B&G Foods (NYSE:BGS) Trading 3.7% Higher – Should You Buy?

B&G Foods, Inc. (NYSE:BGS)’s share price traded up 3.7% during trading on Tuesday . The stock traded as high as $8.48 and last traded at $8.43. 227,647 shares traded hands during trading, a decline of 78% from the average session volume of 1,019,735 shares. The stock had previously closed at $8.13.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Evercore ISI raised shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Finally, Barclays reduced their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.67.

B&G Foods Stock Up 4.8 %

The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $673.51 million, a PE ratio of -5.89 and a beta of 0.60. The business’s 50 day simple moving average is $8.57 and its 200 day simple moving average is $9.10.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $444.60 million during the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. As a group, analysts forecast that B&G Foods, Inc. will post 0.74 EPS for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 8.92%. B&G Foods’s dividend payout ratio is currently -52.78%.

Insider Buying and Selling

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On B&G Foods

Large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in shares of B&G Foods in the second quarter valued at approximately $33,000. nVerses Capital LLC bought a new stake in shares of B&G Foods in the second quarter valued at approximately $33,000. Versant Capital Management Inc boosted its position in shares of B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after acquiring an additional 1,555 shares during the period. Russell Investments Group Ltd. boosted its position in shares of B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after acquiring an additional 4,624 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of B&G Foods in the first quarter valued at approximately $60,000. Institutional investors own 66.15% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.