Traders Buy High Volume of B&G Foods Call Options (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS) saw unusually large options trading on Monday. Traders acquired 3,209 call options on the stock. This represents an increase of approximately 171% compared to the average daily volume of 1,185 call options.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its holdings in B&G Foods by 12.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock valued at $101,000 after purchasing an additional 1,599 shares during the period. Empowered Funds LLC lifted its holdings in B&G Foods by 5.1% during the 4th quarter. Empowered Funds LLC now owns 331,814 shares of the company’s stock worth $2,286,000 after buying an additional 16,194 shares during the last quarter. Rhumbline Advisers lifted its holdings in B&G Foods by 1.2% during the 4th quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock worth $1,730,000 after buying an additional 2,898 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in B&G Foods by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock worth $2,644,000 after buying an additional 10,742 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in B&G Foods during the 4th quarter worth about $103,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Price Performance

NYSE:BGS opened at $4.62 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $368.27 million, a P/E ratio of -13.57 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. The business’s 50-day moving average is $5.43 and its 200 day moving average is $6.32.

B&G Foods (NYSE:BGS) last released its earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $425.40 million for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. On average, equities research analysts forecast that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 annualized dividend and a yield of 16.47%. B&G Foods’s payout ratio is -28.57%.

Analysts Set New Price Targets

BGS has been the topic of several recent analyst reports. Barclays lowered their price target on B&G Foods from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Piper Sandler lowered their price target on B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.30.

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.