B&G Foods Inc. (NYSE: BGS) stock fell -0.38% on Monday to $10.52 against a previous-day closing price of $10.56. With 1.19 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.0 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $10.63 whereas the lowest price it dropped to was $10.24. The 52-week range on BGS shows that it touched its highest point at $19.24 and its lowest point at $9.90 during that stretch. It currently has a 1-year price target of $13.86. With its current market cap of 799.31 million, BGS has annualized dividend of $0.76 while the current yield stands at 7.22%. Beta for the stock currently stands at 0.49.
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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 -3.93%, but this was down by -14.96% over a month. Three-month performance dropped to -24.26% while six-month performance fell -29.44%. The stock lost -45.59% in the past year, while it has lost -5.65% so far this year. A look at the trailing 12-month EPS for BGS yields -0.27 with Next year EPS estimates of 1.13. For the next quarter, that number is 0.26. This implies an EPS growth rate of -112.50% for this year and 8.54% 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 -16.00%.
Float and Shares Shorts:
At present, 72.24 million BGS shares are outstanding with a float of 70.52 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.5 million, which was 13.14% higher than short shares on Jul 30, 2023. 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.
Institutional Ownership:
Through their ownership of 65.67% of BGS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.87% of BGS, in contrast to 3.78% held by mutual funds. Shares owned by individuals account for 24.28%. As the largest shareholder in BGS with 14.88% of the stake, BlackRock Fund Advisors holds 10,754,955 shares worth 10,754,955. A second-largest stockholder of BGS, The Vanguard Group, Inc., holds 8,716,521 shares, controlling over 12.06% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BGS, holding 2,780,513 shares or 3.85% stake. With a 7.07% stake in BGS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,112,838 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.06% of BGS stock, is the second-largest Mutual Fund holder. It holds 2,211,063 shares valued at 28.28 million. Vanguard Small Cap Index Fund holds 2.48% of the stake in BGS, owning 1,791,532 shares worth 22.91 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 30, 2023, BGS reported revenue of $478.96M and operating income of $26.94M. The EBITDA in the recently reported quarter was $53.58M and diluted EPS was $0.00.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BGS since 0 analysts follow the stock currently. 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 $10.00, the average target price over the next 12 months is $13.86. Based on these targets, BGS could surge 52.09% to reach the target high and fall by -4.94% to reach the target low. Reaching the average price target will result in a growth of 31.75% 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.
Summary of Insider Activity:
Insiders traded BGS stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 11,027 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 481,982 while 107,667 shares were sold.
