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

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

B&G Foods Trading Up 1.4 %

Shares of NYSE:BGS traded up $0.15 during midday trading on Wednesday, reaching $11.25. 410,762 shares of the company’s stock were exchanged, compared to its average volume of 971,169. The firm’s 50 day simple moving average is $10.91 and its two-hundred day simple moving average is $10.15. The company has a quick ratio of 0.89, a current ratio of 3.06 and a debt-to-equity ratio of 2.42. B&G Foods has a fifty-two week low of $7.20 and a fifty-two week high of $16.62.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $578.13 million for the quarter, compared to analyst estimates of $569.65 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, research analysts anticipate that B&G Foods will post 0.83 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.76%. The ex-dividend date was Wednesday, March 27th. B&G Foods’s payout ratio is currently -86.36%.

Wall Street Analyst Weigh In

BGS has been the subject of several analyst reports. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research 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 research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, B&G Foods presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Institutional Investors Weigh In On B&G Foods

Large investors have recently modified their holdings of the company. Signaturefd LLC raised its position in B&G Foods by 58.2% in the fourth quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock worth $64,000 after acquiring an additional 2,254 shares in the last quarter. CWM LLC increased its position in shares of B&G Foods by 57.6% in the fourth quarter. CWM LLC now owns 6,257 shares of the company’s stock valued at $66,000 after buying an additional 2,287 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in B&G Foods during the 3rd quarter worth about $70,000. GAMMA Investing LLC purchased a new stake in B&G Foods during the 4th quarter worth about $76,000. Finally, SG Americas Securities LLC acquired a new stake in B&G Foods in the 3rd quarter worth about $104,000. 66.15% of the stock is owned by institutional investors and hedge funds.

About B&G Foods

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.