Short Interest in B&G Foods, Inc. (NYSE:BGS) Expands By 34.4%

B&G Foods, Inc. (NYSE:BGS - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 18,570,000 shares, a growth of 34.4% from the April 30th total of 13,820,000 shares. Based on an average daily volume of 2,740,000 shares, the short-interest ratio is presently 6.8 days. Approximately 24.2% of the shares of the stock are sold short.

B&G Foods Trading Up 2.6%

BGS stock traded up $0.11 during midday trading on Thursday, hitting $4.20. The stock had a trading volume of 2,691,241 shares, compared to its average volume of 1,676,475. The firm has a market cap of $334.75 million, a PE ratio of -12.34 and a beta of 0.74. 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 12-month low of $3.97 and a 12-month high of $9.68. The company's 50-day moving average price is $5.58 and its 200 day moving average price is $6.37.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.12). The business had revenue of $425.40 million for 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%. B&G Foods's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. On average, equities research analysts predict that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 18.12%. The ex-dividend date of this dividend is Monday, June 30th. B&G Foods's dividend payout ratio is currently -28.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp grew its holdings in B&G Foods by 260.9% in the fourth quarter. Fifth Third Bancorp now owns 13,500 shares of the company's stock valued at $93,000 after purchasing an additional 9,759 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of B&G Foods by 12.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company's stock valued at $101,000 after purchasing an additional 1,599 shares during the last quarter. Empowered Funds LLC grew its stake in shares of B&G Foods by 5.1% during the 4th quarter. Empowered Funds LLC now owns 331,814 shares of the company's stock valued at $2,286,000 after buying an additional 16,194 shares during the period. Rhumbline Advisers increased its holdings in shares of B&G Foods by 1.2% during the 4th quarter. Rhumbline Advisers now owns 251,087 shares of the company's stock worth $1,730,000 after buying an additional 2,898 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of B&G Foods by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company's stock worth $2,644,000 after buying an additional 10,742 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BGS. Piper Sandler lowered their target price on B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Barclays reduced their price objective on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, B&G Foods presently has an average rating of "Hold" and an average price target 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.