B&G Foods, Inc. (NYSE:BGS) Short Interest Down 6.2% in April

B&G Foods, Inc. (NYSE:BGS) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,800,000 shares, a decrease of 6.2% from the March 31st total of 7,250,000 shares. Based on an average trading volume of 987,400 shares, the days-to-cover ratio is presently 6.9 days.

B&G Foods Trading Down 0.2 %

Shares of B&G Foods stock opened at $11.08 on Thursday. The stock has a market capitalization of $875.48 million, a P/E ratio of -12.59 and a beta of 0.71. B&G Foods has a 12-month low of $7.20 and a 12-month high of $16.62. The company has a quick ratio of 0.89, a current ratio of 3.06 and a debt-to-equity ratio of 2.42. The company has a 50-day simple moving average of $10.94 and a 200 day simple moving average of $10.16.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. B&G Foods had a positive return on equity of 8.68% and a negative net margin of 3.21%. The business had revenue of $578.13 million for the quarter, compared to the consensus estimate of $569.65 million. During the same period in the previous year, the business earned $0.40 EPS. B&G Foods’s revenue was down 7.2% compared to the same quarter last year. Research analysts expect that B&G Foods will post 0.83 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.76 annualized dividend and a yield of 6.86%. B&G Foods’s dividend payout ratio (DPR) is -86.36%.

Institutional Investors Weigh In On B&G Foods

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of B&G Foods during the third quarter valued at approximately $104,000. Commonwealth Equity Services LLC boosted its position in B&G Foods by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 114,370 shares of the company’s stock valued at $1,131,000 after buying an additional 1,765 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of B&G Foods by 35.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,166 shares of the company’s stock valued at $170,000 after buying an additional 4,517 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of B&G Foods by 4.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,161,348 shares of the company’s stock worth $11,486,000 after acquiring an additional 46,201 shares during the last quarter. Finally, Inspire Advisors LLC acquired a new position in shares of B&G Foods during the third quarter valued at $490,000. Institutional investors own 66.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BGS. Piper Sandler boosted their price objective on shares of B&G Foods from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, February 28th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.50.

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.