Short Interest in B&G Foods, Inc. (NYSE:BGS) Rises By 31.2%

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

B&G Foods Stock Performance

Shares of BGS stock remained flat at $6.68 during mid-day trading on Friday. The stock had a trading volume of 648,760 shares, 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 current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The stock’s fifty day simple moving average is $7.82 and its 200-day simple moving average is $8.34. The stock has a market capitalization of $528.82 million, a price-to-earnings ratio of -19.65 and a beta of 0.61.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same period in the previous year, the firm earned $0.27 earnings per share. B&G Foods’s revenue was down 8.3% on a year-over-year basis. Analysts forecast that B&G Foods will post 0.73 earnings per share for the current year.

B&G Foods Announces Dividend

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

Insider Activity

In other news, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the transaction, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. This trade represents a 24.73 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at $550,571.35. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 90,111 shares of company stock valued at $593,054. 3.20% of the stock is currently owned by insiders.

Institutional Trading of B&G Foods

A number of large investors have recently added to or reduced their stakes in the business. Dana Investment Advisors Inc. lifted its position in shares of B&G Foods by 23.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after acquiring an additional 134,937 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of B&G Foods during the second quarter valued at $958,000. California State Teachers Retirement System boosted its position in shares of B&G Foods by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock valued at $898,000 after purchasing an additional 2,466 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of B&G Foods by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock valued at $628,000 after purchasing an additional 3,979 shares during the period. Finally, Savoir Faire Capital Management L.P. raised its holdings in B&G Foods by 37.5% during the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after buying an additional 144,146 shares during the period. 66.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Barclays reduced 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 report on Thursday, November 7th. TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Evercore ISI cut their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, B&G Foods presently has a consensus rating of “Hold” and a consensus price target of $8.30.

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.