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

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B&G Foods, Inc. (NYSE:BGS) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 4,270 put options on the stock. This represents an increase of 1,464% compared to the typical daily volume of 273 put options.

Shares of BGS stock opened at $27.50 on Thursday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.61 and a beta of 0.50. B&G Foods has a one year low of $10.39 and a one year high of $31.93. The company’s fifty day moving average price is $28.22 and its 200-day moving average price is $27.81. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.56 and a quick ratio of 0.94.

B&G Foods (NYSE:BGS) last posted its earnings results on Thursday, November 5th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The company had revenue of $495.80 million during the quarter, compared to analysts’ expectations of $462.17 million. B&G Foods had a net margin of 6.75% and a return on equity of 17.25%. B&G Foods’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $0.54 earnings per share. Equities research analysts expect that B&G Foods will post 2.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Thursday, December 31st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $1.90 annualized dividend and a yield of 6.91%. B&G Foods’s payout ratio is 115.85%.

BGS has been the topic of several recent research reports. Credit Suisse Group downgraded shares of B&G Foods from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $28.00 to $25.00 in a research report on Tuesday. ValuEngine downgraded shares of B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Monday, November 2nd. Finally, BidaskClub downgraded shares of B&G Foods from a “buy” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. B&G Foods currently has an average rating of “Hold” and a consensus target price of $24.67.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. bought a new stake in B&G Foods during the 2nd quarter valued at about $49,000. Bank of New York Mellon Corp grew its position in shares of B&G Foods by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,650,135 shares of the company’s stock worth $40,230,000 after buying an additional 5,572 shares during the last quarter. American International Group Inc. grew its position in shares of B&G Foods by 3.3% in the 2nd quarter. American International Group Inc. now owns 45,153 shares of the company’s stock worth $1,101,000 after buying an additional 1,448 shares during the last quarter. Bank of Montreal Can grew its position in shares of B&G Foods by 15.7% in the 2nd quarter. Bank of Montreal Can now owns 40,235 shares of the company’s stock worth $984,000 after buying an additional 5,469 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its position in shares of B&G Foods by 13.6% in the 2nd quarter. State of Tennessee Treasury Department now owns 38,093 shares of the company’s stock worth $929,000 after buying an additional 4,548 shares during the last quarter. 72.89% of the stock is owned by 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. 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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

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