B&G Foods (NYSE:BGS) Trading 3.2% Higher – Should You Buy?

B&G Foods, Inc. (NYSE:BGS) shares traded up 3.2% during trading on Tuesday . The stock traded as high as $6.86 and last traded at $6.86. 294,553 shares changed hands during trading, a decline of 82% from the average session volume of 1,682,194 shares. The stock had previously closed at $6.64.

Wall Street Analyst Weigh In

BGS has been the subject of a number of research reports. Piper Sandler lowered 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 report on Wednesday, February 26th. TD Cowen cut their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday, November 6th. Barclays reduced their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Evercore ISI dropped their price target on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. One research 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 company has an average rating of “Hold” and an average price target of $8.10.

B&G Foods Stock Up 0.5 %

The business’s 50-day moving average is $6.56 and its two-hundred day moving average is $7.46. 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 firm has a market capitalization of $528.25 million, a price-to-earnings ratio of -19.66 and a beta of 0.50.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $551.57 million during the quarter, compared to analysts’ expectations of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.39%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio is -23.90%.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BGS. Creative Planning increased its stake in B&G Foods by 94.5% in the 3rd quarter. Creative Planning now owns 37,744 shares of the company’s stock valued at $335,000 after buying an additional 18,340 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of B&G Foods by 47.7% in the third quarter. Nisa Investment Advisors LLC now owns 104,459 shares of the company’s stock valued at $947,000 after acquiring an additional 33,712 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of B&G Foods by 1.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock worth $2,258,000 after purchasing an additional 4,240 shares in the last quarter. Versor Investments LP boosted its holdings in shares of B&G Foods by 13.4% in the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock valued at $216,000 after buying an additional 2,862 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of B&G Foods by 5.4% in the third quarter. Empowered Funds LLC now owns 315,620 shares of the company’s stock valued at $2,803,000 after buying an additional 16,080 shares in the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

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.