Investors Purchase High Volume of B&G Foods Put Options (BGS)

B&G Foods, Inc. (NYSE:BGS) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 7,678 put options on the stock. This is an increase of Infinity compared to the average volume of 0 put options.

Shares of B&G Foods (BGS) opened at $33.35 on Monday. B&G Foods has a 1 year low of $29.50 and a 1 year high of $47.75. The stock has a market cap of $2,217.65, a price-to-earnings ratio of 18.22 and a beta of 0.11. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.06 and a current ratio of 3.24.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.08. The firm had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $391.31 million. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. B&G Foods’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. research analysts anticipate that B&G Foods will post 2.12 earnings per share for the current year.

The company 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 dividend on an annualized basis and a dividend yield of 5.58%. B&G Foods’s dividend payout ratio (DPR) is 123.18%.

Several equities research analysts have weighed in on BGS shares. Royal Bank Of Canada reissued a “buy” rating and set a $52.00 price objective on shares of B&G Foods in a research note on Tuesday, July 18th. BidaskClub upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Citigroup Inc. raised B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, July 20th. BMO Capital Markets cut their target price on B&G Foods from $45.00 to $39.00 and set a “market perform” rating on the stock in a research report on Friday, August 4th. Finally, Buckingham Research cut their price target on B&G Foods from $43.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $40.61.

Several institutional investors have recently modified their holdings of BGS. Teachers Advisors LLC increased its stake in shares of B&G Foods by 3.9% during the first quarter. Teachers Advisors LLC now owns 112,951 shares of the company’s stock worth $4,546,000 after acquiring an additional 4,204 shares during the period. Vanguard Group Inc. grew its position in B&G Foods by 3.9% during the first quarter. Vanguard Group Inc. now owns 6,133,609 shares of the company’s stock worth $246,879,000 after buying an additional 231,982 shares during the period. Geode Capital Management LLC grew its position in B&G Foods by 8.7% during the first quarter. Geode Capital Management LLC now owns 514,807 shares of the company’s stock worth $20,720,000 after buying an additional 41,292 shares during the period. Dimensional Fund Advisors LP grew its position in B&G Foods by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,522,094 shares of the company’s stock worth $61,265,000 after buying an additional 13,480 shares during the period. Finally, New York State Teachers Retirement System grew its position in B&G Foods by 0.8% during the first quarter. New York State Teachers Retirement System now owns 73,884 shares of the company’s stock worth $2,974,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 91.17% of the company’s stock.

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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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