Stock Traders Buy Large Volume of B&G Foods Put Options (BGS)
B&G Foods, Inc. (NYSE:BGS) was the target of some unusual options trading on Wednesday. Investors bought 7,678 put options on the stock. This represents an increase of Infinity compared to the average volume of 0 put options.
BGS has been the topic of several analyst reports. Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub downgraded B&G Foods from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Buckingham Research upgraded B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, August 23rd. Barclays PLC dropped their target price on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 8th. Finally, Stephens upgraded B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 target price on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. B&G Foods currently has an average rating of “Buy” and a consensus target price of $40.61.
Institutional investors have recently made changes to their positions in the company. Tradition Capital Management LLC acquired a new position in shares of B&G Foods during the second quarter worth about $1,346,000. Brookstone Capital Management acquired a new position in shares of B&G Foods during the second quarter worth about $268,000. BNP Paribas Arbitrage SA grew its position in shares of B&G Foods by 60.7% during the second quarter. BNP Paribas Arbitrage SA now owns 21,479 shares of the company’s stock worth $765,000 after buying an additional 8,113 shares in the last quarter. Diversified Trust Co acquired a new position in shares of B&G Foods during the second quarter worth about $215,000. Finally, Biondo Investment Advisors LLC grew its position in shares of B&G Foods by 20.4% during the second quarter. Biondo Investment Advisors LLC now owns 66,217 shares of the company’s stock worth $2,357,000 after buying an additional 11,222 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.
Shares of B&G Foods (NYSE BGS) opened at $33.60 on Friday. The firm has a market capitalization of $2.17 billion, a PE ratio of 17.87 and a beta of 0.11. The company has a quick ratio of 1.24, a current ratio of 3.24 and a debt-to-equity ratio of 2.34.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.08. The company had revenue of $408.40 million for the quarter, compared to analyst estimates of $391.31 million. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. analysts forecast that B&G Foods will post 2.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.86 dividend on an annualized basis and a yield of 5.54%. B&G Foods’s dividend payout ratio (DPR) is presently 123.18%.
B&G Foods Company Profile
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products.
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