Stock Traders Buy Large Volume of B&G Foods Put Options (BGS)

B&G Foods, Inc. (NYSE:BGS) saw unusually large options trading on Wednesday. Investors acquired 17,721 put options on the company. This represents an increase of approximately 5,158% compared to the typical daily volume of 337 put options.

A number of brokerages have recently weighed in on BGS. ValuEngine lowered B&G Foods from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Piper Jaffray Companies set a $26.00 price objective on B&G Foods and gave the stock a “hold” rating in a research note on Friday, March 1st. Barclays restated a “hold” rating and set a $23.00 price objective on shares of B&G Foods in a research note on Thursday, February 28th. Finally, BMO Capital Markets lowered their price objective on B&G Foods from $33.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $28.72.

B&G Foods stock opened at $22.12 on Friday. B&G Foods has a one year low of $21.36 and a one year high of $33.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.74 and a current ratio of 2.15. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 11.96 and a beta of 0.44.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.05). B&G Foods had a return on equity of 13.26% and a net margin of 10.03%. The company had revenue of $412.70 million for the quarter, compared to the consensus estimate of $406.04 million. During the same quarter last year, the business earned $0.55 EPS. B&G Foods’s revenue was down 4.4% on a year-over-year basis. Equities research analysts expect that B&G Foods will post 1.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.90 dividend on an annualized basis and a yield of 8.59%. B&G Foods’s dividend payout ratio (DPR) is presently 102.70%.

In other news, COO Kenneth G. Romanzi bought 1,200 shares of the stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $24.64 per share, for a total transaction of $29,568.00. Following the completion of the purchase, the chief operating officer now owns 1,200 shares in the company, valued at $29,568. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of BGS. Bank of New York Mellon Corp increased its stake in shares of B&G Foods by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,428,670 shares of the company’s stock valued at $39,218,000 after purchasing an additional 41,230 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of B&G Foods by 5.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 51,759 shares of the company’s stock valued at $1,421,000 after purchasing an additional 2,589 shares during the last quarter. Legal & General Group Plc increased its stake in shares of B&G Foods by 7.1% in the 3rd quarter. Legal & General Group Plc now owns 163,914 shares of the company’s stock valued at $4,515,000 after purchasing an additional 10,903 shares during the last quarter. Morgan Stanley increased its stake in shares of B&G Foods by 1.0% in the 3rd quarter. Morgan Stanley now owns 775,803 shares of the company’s stock valued at $21,295,000 after purchasing an additional 7,506 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of B&G Foods by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,924,430 shares of the company’s stock valued at $190,075,000 after purchasing an additional 149,343 shares during the last quarter. Hedge funds and other institutional investors own 99.42% of the company’s stock.

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About B&G Foods

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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