B&G Foods, Inc. (NYSE:BGS) Short Interest Update

B&G Foods, Inc. (NYSE:BGS) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 10,210,000 shares, a growth of 31.2% from the October 31st total of 7,780,000 shares. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is presently 8.6 days.

B&G Foods Stock Performance

NYSE:BGS remained flat at $6.68 on Friday. 648,760 shares of the company’s stock were exchanged, compared to its average volume of 1,100,419. B&G Foods has a one year low of $6.12 and a one year high of $11.97. The company has a market cap of $528.82 million, a PE ratio of -19.65 and a beta of 0.61. 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’s 50-day moving average price is $7.82 and its 200-day moving average price is $8.34.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. B&G Foods’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities analysts predict that B&G Foods will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 11.38%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s dividend payout ratio is currently -223.53%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays dropped their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a research report on Wednesday, August 7th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Evercore ISI dropped their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen reduced their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. One equities 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 company currently has a consensus rating of “Hold” and an average target price of $8.30.

Insider Activity at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the completion of the sale, the executive vice president now directly owns 66,095 shares in the company, valued at approximately $550,571.35. The trade was a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric H. Hart purchased 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $31,250.00. Following the purchase, the executive vice president now owns 88,899 shares of the company’s stock, valued at $555,618.75. This trade represents a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On B&G Foods

Institutional investors have recently modified their holdings of the stock. nVerses Capital LLC grew its stake in B&G Foods by 34.1% in the third quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after purchasing an additional 1,400 shares in the last quarter. Versant Capital Management Inc raised its position in shares of B&G Foods by 36.9% during the 2nd 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 in the last quarter. Rhumbline Advisers lifted its stake in B&G Foods by 0.7% during the second quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock worth $2,010,000 after purchasing an additional 1,625 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in B&G Foods by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock worth $450,000 after purchasing an additional 1,636 shares during the period. Finally, PFG Investments LLC boosted its holdings in B&G Foods by 12.5% in the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after purchasing an additional 2,008 shares during the period. Institutional investors and hedge funds 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.