Investors Buy Large Volume of Call Options on B&G Foods (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS - Get Free Report) was the recipient of unusually large options trading activity on Monday. Stock investors bought 3,209 call options on the stock. This is an increase of approximately 171% compared to the average daily volume of 1,185 call options.

Hedge Funds Weigh In On B&G Foods

A number of hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in B&G Foods by 29.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 250,510 shares of the company's stock valued at $1,721,000 after buying an additional 57,188 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of B&G Foods by 6.6% in the 1st quarter. Empowered Funds LLC now owns 353,878 shares of the company's stock valued at $2,431,000 after acquiring an additional 22,064 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of B&G Foods by 28.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company's stock valued at $4,851,000 after acquiring an additional 155,503 shares in the last quarter. Petrus Trust Company LTA raised its position in shares of B&G Foods by 158.9% during the 1st quarter. Petrus Trust Company LTA now owns 75,845 shares of the company's stock valued at $521,000 after acquiring an additional 46,545 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in B&G Foods by 15,131.8% during the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company's stock worth $12,970,000 after purchasing an additional 1,875,589 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Stock Down 0.2%

NYSE BGS traded down $0.01 on Thursday, reaching $4.52. The company had a trading volume of 1,522,637 shares, compared to its average volume of 1,721,425. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods has a 1 year low of $3.97 and a 1 year high of $9.44. The firm has a 50-day moving average of $5.31 and a 200-day moving average of $6.29. The firm has a market capitalization of $360.69 million, a PE ratio of -13.29 and a beta of 0.54.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.12). The firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $459.40 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that B&G Foods will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be paid a $0.19 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 16.81%. B&G Foods's dividend payout ratio (DPR) is presently -28.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays decreased their target price on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Piper Sandler decreased their price objective on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat, B&G Foods presently has a consensus rating of "Hold" and a consensus target price of $7.30.

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.