B&G Foods Sees Unusually High Options Volume (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS) saw unusually large options trading activity on Tuesday. Stock investors purchased 10,279 put options on the stock. This is an increase of 3,015% compared to the average volume of 330 put options.

BGS stock opened at $16.04 on Wednesday. B&G Foods has a one year low of $14.20 and a one year high of $28.95. The stock has a market capitalization of $1.00 billion, a PE ratio of 5.90 and a beta of 0.48. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.65 and a current ratio of 3.47. The company has a fifty day moving average of $17.08 and a 200-day moving average of $17.82.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.03). B&G Foods had a net margin of 10.80% and a return on equity of 12.70%. The company had revenue of $406.30 million during the quarter, compared to analyst estimates of $405.65 million. During the same quarter last year, the business earned $0.57 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts forecast that B&G Foods will post 1.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 11.85%. The ex-dividend date of this dividend is Monday, December 30th. B&G Foods’s dividend payout ratio (DPR) is 102.70%.

Several research analysts have issued reports on BGS shares. ValuEngine raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Barclays reissued a “hold” rating and set a $16.00 price objective on shares of B&G Foods in a research report on Sunday, November 3rd. Buckingham Research set a $17.00 price objective on shares of B&G Foods and gave the stock a “hold” rating in a research report on Friday, November 1st. Piper Jaffray Companies set a $17.00 price objective on shares of B&G Foods and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lowered their price objective on shares of B&G Foods to $20.00 and set a “market perform” rating on the stock in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $20.14.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of B&G Foods by 4.5% in the second quarter. Vanguard Group Inc. now owns 7,697,600 shares of the company’s stock valued at $160,109,000 after purchasing an additional 331,944 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of B&G Foods by 5.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,601,100 shares of the company’s stock valued at $30,277,000 after purchasing an additional 82,921 shares during the period. Northern Trust Corp lifted its stake in shares of B&G Foods by 1.5% in the second quarter. Northern Trust Corp now owns 866,953 shares of the company’s stock valued at $18,033,000 after purchasing an additional 12,539 shares during the period. Morgan Stanley lifted its stake in shares of B&G Foods by 57.9% in the second quarter. Morgan Stanley now owns 754,141 shares of the company’s stock valued at $15,685,000 after purchasing an additional 276,626 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of B&G Foods by 375.1% in the third quarter. SG Americas Securities LLC now owns 671,731 shares of the company’s stock valued at $12,702,000 after purchasing an additional 530,350 shares during the period. Hedge funds and other institutional investors own 92.46% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.

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