B&G Foods Inc. (NYSE: BGS) stock fell -6.71% on Tuesday to $13.91 against a previous-day closing price of $14.91. With 1.08 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.39 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $14.98 whereas the lowest price it dropped to was $13.80. The 52-week range on BGS shows that it touched its highest point at $32.21 and its lowest point at $10.91 during that stretch. It currently has a 1-year price target of $12.93. With its current market cap of 973.42 million, BGS has annualized dividend of $0.76 while the current yield stands at 5.46%. Beta for the stock currently stands at 0.45.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BGS was down-trending over the past week, with a drop of -3.60%, but this was up by 18.28% over a month. Three-month performance dropped to -3.47% while six-month performance fell -42.31%. The stock lost -56.64% in the past year, while it has gained 24.75% so far this year. A look at the trailing 12-month EPS for BGS yields -0.55 with Next year EPS estimates of 1.03. For the next quarter, that number is 0.22. This implies an EPS growth rate of -49.70% for this year and 9.09% for next year. EPS is expected to decline by -11.24% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -9.80%.
Float and Shares Shorts:
At present, 71.67 million BGS shares are outstanding with a float of 68.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 12.59 million, which was 17.57% higher than short shares on Sep 14, 2022. In addition to Mr. Kenneth Charles Keller Jr. as the firm’s Pres, CEO & Director, Mr. Bruce C. Wacha serves as its CFO & Exec. VP of Fin.
Through their ownership of 68.73% of BGS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.82% of BGS, in contrast to 3.31% held by mutual funds. Shares owned by individuals account for 24.19%. As the largest shareholder in BGS with 14.66% of the stake, BlackRock Fund Advisors holds 10,508,047 shares worth 10,508,047. A second-largest stockholder of BGS, The Vanguard Group, Inc., holds 8,431,494 shares, controlling over 11.77% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BGS, holding 3,829,591 shares or 5.34% stake. With a 7.39% stake in BGS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,292,430 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.09% of BGS stock, is the second-largest Mutual Fund holder. It holds 2,213,676 shares valued at 24.68 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in BGS, owning 1,846,655 shares worth 20.59 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BGS since 8 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 2 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BGS analysts setting a high price target of $16.00 and a low target of $9.00, the average target price over the next 12 months is $12.64. Based on these targets, BGS could surge 15.03% to reach the target high and fall by -35.3% to reach the target low. Reaching the average price target will result in a decline of -9.13% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BGS will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of $1.00 being high and $0.91 being low. For BGS, this leads to a yearly average estimate of $0.95. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. B&G Foods Inc. surprised analysts by -$0.01 when it reported $0.31 EPS against a consensus estimate of $0.32. The surprise factor in the prior quarter was -$0.14. Based on analyst estimates, the high estimate for the next quarter is $0.28 and the low estimate is $0.18. The average estimate for the next quarter is thus $0.22.
Summary of Insider Activity:
Insiders traded BGS stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 20,000 shares were bought while 11,027 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 285,623 while 96,695 shares were sold.