B&G Foods Target of Unusually Large Options Trading (BGS)
B&G Foods, Inc. (NYSE:BGS) was the recipient of some unusual options trading activity on Tuesday. Traders bought 13,470 put options on the stock. This represents an increase of approximately 13,237% compared to the average daily volume of 101 put options.
Several research firms have commented on BGS. Zacks Investment Research lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Thursday. Berenberg Bank upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and decreased their price objective for the company from $43.50 to $40.00 in a research note on Thursday, November 16th. Stephens upgraded shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a research note on Wednesday, November 1st. Finally, Buckingham Research upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $40.22.
Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in B&G Foods by 213.1% in the 2nd quarter. Principal Financial Group Inc. now owns 4,319,621 shares of the company’s stock valued at $153,779,000 after buying an additional 2,940,036 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in B&G Foods in the 2nd quarter valued at approximately $26,312,000. Lord Abbett & CO. LLC purchased a new position in B&G Foods in the 2nd quarter valued at approximately $25,526,000. Point72 Asset Management L.P. grew its stake in B&G Foods by 1,503.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 588,485 shares of the company’s stock valued at $18,743,000 after buying an additional 551,785 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in B&G Foods by 4,241.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 336,309 shares of the company’s stock valued at $11,973,000 after buying an additional 328,563 shares in the last quarter. Institutional investors own 94.13% of the company’s stock.
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 Thomson Reuters’ consensus estimate of $0.47 by $0.08. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The company had revenue of $408.40 million during the quarter, compared to analyst estimates of $391.31 million. During the same quarter last year, the business posted $0.56 EPS. B&G Foods’s quarterly revenue was up 28.3% compared to the same quarter last year. research analysts expect that B&G Foods will post 2.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.465 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.86 annualized dividend and a dividend yield of 5.43%. B&G Foods’s payout ratio is currently 123.18%.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/08/bg-foods-target-of-unusually-large-options-trading-bgs.html.
About B&G Foods
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.
Receive News & Ratings for B&G Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.