B&G Foods (NYSE:BGS) Trading Up 5% – Should You Buy?

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

Wall Street Analyst Weigh In

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

B&G Foods Trading Up 3.1 %

The stock’s fifty day simple moving average is $6.55 and its 200-day simple moving average is $7.43. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a market cap of $624.00 million, a PE ratio of -23.19 and a beta of 0.47.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $551.57 million during 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%. On average, sell-side analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 9.64%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s payout ratio is -23.90%.

Institutional Investors Weigh In On B&G Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its stake in shares of B&G Foods by 1.7% in the third quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock worth $2,258,000 after buying an additional 4,240 shares during the last quarter. Versor Investments LP lifted its holdings in B&G Foods by 13.4% in the third quarter. Versor Investments LP now owns 24,300 shares of the company’s stock valued at $216,000 after acquiring an additional 2,862 shares during the period. Empowered Funds LLC boosted its position in B&G Foods by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 315,620 shares of the company’s stock worth $2,803,000 after purchasing an additional 16,080 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of B&G Foods by 87.8% during the 3rd quarter. Intech Investment Management LLC now owns 47,056 shares of the company’s stock worth $418,000 after purchasing an additional 22,003 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of B&G Foods during the 3rd quarter valued at approximately $1,201,000. 66.15% of the stock is owned by institutional investors and hedge funds.

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.