B&G Foods (NYSE:BGS) Stock Price Up 5% – What’s Next?

B&G Foods, Inc. (NYSE:BGS)’s stock price rose 5% during trading on Monday . The stock traded as high as $8.06 and last traded at $8.04. Approximately 991,899 shares changed 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 Analyst Weigh In

Separately, Piper Sandler decreased their target price on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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’s fifty day simple moving average is $6.58 and its 200 day simple moving average is $7.42. The stock has a market cap of $571.69 million, a price-to-earnings ratio of -21.25 and a beta of 0.47.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. Research analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 10.52%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio is presently -23.90%.

Institutional Investors Weigh In On B&G Foods

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in 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. acquired a new position in shares of B&G Foods during the fourth quarter valued at $77,000. SBI Securities Co. Ltd. acquired a new position in shares of B&G Foods during the fourth quarter valued at $79,000. Regent Peak Wealth Advisors LLC bought a new stake in shares of B&G Foods during the fourth quarter valued at about $81,000. Finally, Prism Advisors Inc. acquired a new stake in B&G Foods in the fourth quarter worth about $82,000. 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.