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

B&G Foods, Inc. (NYSE:BGS) was the recipient of a significant decrease in short interest during 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 daily trading volume, of 987,400 shares, the days-to-cover ratio is currently 6.9 days.

B&G Foods Trading Up 1.8 %

Shares of BGS stock opened at $11.26 on Tuesday. B&G Foods has a 12-month low of $7.20 and a 12-month high of $16.68. The company has a current ratio of 3.06, a quick ratio of 0.89 and a debt-to-equity ratio of 2.42. The firm’s 50 day moving average is $10.88 and its 200 day moving average is $10.13. The stock has a market capitalization of $890.10 million, a P/E ratio of -12.80 and a beta of 0.71.

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

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.76 annualized dividend and a yield of 6.75%. B&G Foods’s payout ratio is presently -86.36%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC raised its position in B&G Foods by 1.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 53,151 shares of the company’s stock worth $558,000 after acquiring an additional 1,007 shares during the period. Mutual of America Capital Management LLC raised its position in B&G Foods by 8.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 13,761 shares of the company’s stock worth $144,000 after acquiring an additional 1,090 shares during the period. SeaCrest Wealth Management LLC raised its position in B&G Foods by 12.6% in the first quarter. SeaCrest Wealth Management LLC now owns 15,170 shares of the company’s stock worth $174,000 after acquiring an additional 1,700 shares during the period. Commonwealth Equity Services LLC raised its position in B&G Foods by 1.6% in the third quarter. Commonwealth Equity Services LLC now owns 114,370 shares of the company’s stock worth $1,131,000 after acquiring an additional 1,765 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in B&G Foods by 7.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 28,575 shares of the company’s stock worth $300,000 after acquiring an additional 1,948 shares during the period. 66.15% of the stock is currently owned by institutional investors.

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.