B&G Foods Target of Unusually Large Options Trading (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS) was the target of some unusual options trading on Monday. Stock investors acquired 3,209 call options on the company. This is an increase of 171% compared to the average daily volume of 1,185 call options.

B&G Foods Stock Up 7.5%

Shares of B&G Foods stock traded up $0.33 during trading on Monday, hitting $4.68. 1,552,786 shares of the stock were exchanged, compared to its average volume of 2,329,219. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The firm’s 50-day moving average price is $5.47 and its 200 day moving average price is $6.34. The stock has a market cap of $373.06 million, a price-to-earnings ratio of -13.75 and a beta of 0.53. B&G Foods has a 12-month low of $3.97 and a 12-month high of $9.68.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $425.40 million during the quarter, compared to analyst estimates of $459.40 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. As a group, analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 16.26%. The ex-dividend date is Monday, June 30th. B&G Foods’s payout ratio is -28.57%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BGS shares. Barclays reduced their price target on shares of 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. Piper Sandler reduced their price objective on B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock 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 stock. Based on data from MarketBeat.com, B&G Foods presently has an average rating of “Hold” and a consensus price target of $7.30.

Institutional Investors Weigh In On B&G Foods

A number of institutional investors and hedge funds have recently bought and sold shares of BGS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 worth $1,721,000 after purchasing an additional 57,188 shares during the last quarter. Empowered Funds LLC boosted its position 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 purchasing an additional 22,064 shares during the period. Goldman Sachs Group Inc. grew its stake in B&G Foods by 28.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company’s stock worth $4,851,000 after buying an additional 155,503 shares during the last quarter. Petrus Trust Company LTA grew its stake in B&G Foods by 158.9% during the 1st quarter. Petrus Trust Company LTA now owns 75,845 shares of the company’s stock worth $521,000 after buying an additional 46,545 shares during the last quarter. Finally, Millennium Management LLC increased its position 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 buying an additional 1,875,589 shares during the period. 66.15% of the stock is owned by hedge funds and other institutional investors.

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.