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

B&G Foods, Inc. (NYSE:BGS) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 6,800,000 shares, a drop 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 Stock Performance

Shares of BGS opened at $11.26 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 0.89 and a debt-to-equity ratio of 2.42. The firm has a market cap of $890.10 million, a PE ratio of -12.80 and a beta of 0.71. The company’s 50 day simple moving average is $10.88 and its 200-day simple moving average is $10.13. B&G Foods has a 12-month low of $7.20 and a 12-month high of $16.68.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share (EPS) 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 business had revenue of $578.13 million for the quarter, compared to analyst estimates of $569.65 million. During the same period last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities analysts predict that B&G Foods will post 0.83 EPS for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a yield of 6.75%. B&G Foods’s dividend payout ratio (DPR) is -86.36%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BGS. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Piper Sandler raised their target price on shares of B&G Foods from $8.00 to $9.00 and gave the stock 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Hedge Funds Weigh In On B&G Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of BGS. PFG Investments LLC acquired a new position in shares of B&G Foods during the 1st quarter worth $229,000. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of B&G Foods by 13.8% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 46,468 shares of the company’s stock worth $532,000 after purchasing an additional 5,623 shares during the period. SeaCrest Wealth Management LLC grew its stake in shares of B&G Foods by 12.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 15,170 shares of the company’s stock worth $174,000 after purchasing an additional 1,700 shares during the period. Gilman Hill Asset Management LLC grew its stake in shares of B&G Foods by 4.0% during the 1st quarter. Gilman Hill Asset Management LLC now owns 583,953 shares of the company’s stock worth $6,680,000 after purchasing an additional 22,534 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of B&G Foods by 40.2% during the 1st quarter. GAMMA Investing LLC now owns 10,560 shares of the company’s stock worth $121,000 after purchasing an additional 3,030 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

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.