B&G Foods (NYSE:BGS) Stock Price 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.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their target price on shares of 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 analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, B&G Foods currently has an average rating of “Hold” and a consensus price target of $8.10.

B&G Foods Stock Performance

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 company has a market cap of $624.00 million, a PE ratio of -23.19 and a beta of 0.47. The firm’s fifty day moving average is $6.55 and its 200 day moving average is $7.43.

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

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 9.64%. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

Institutional Trading of B&G Foods

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings 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 purchasing an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. acquired a new position in B&G Foods during the fourth quarter worth about $77,000. SBI Securities Co. Ltd. purchased a new stake in B&G Foods during the 4th quarter valued at about $79,000. Regent Peak Wealth Advisors LLC purchased a new stake in B&G Foods during the 4th quarter valued at about $81,000. Finally, Prism Advisors Inc. purchased a new position in B&G Foods in the 4th quarter worth approximately $82,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

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.