B&G Foods, Inc (NYSE: BGS) stock jumped 0.32% on Monday to $9.45 against a previous-day closing price of $9.42. With 1.25 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.33 million shares. During the session, the Packaged Foods company that operates in wider Consumer Defensive sector, reached to the highest price of $9.50 whereas the lowest price it dropped to was $9.10. The 52-week range on BGS shows that it touched its highest point at $16.68 and its lowest point at $7.20 during that stretch. It currently has a 1-year price target of $9.33. With its current market cap of 742.96 million, BGS has annualized dividend of $0.76 while the current yield stands at 8.04%. Beta for the stock currently stands at 0.61.
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 up-trending over the past week, with a rise of 16.67%, but this was up by 11.57% over a month. Three-month performance dropped to -22.09% while six-month performance fell -27.48%. The stock lost -27.86% in the past year, while it has lost -15.25% so far this year. A look at the trailing 12-month EPS for BGS yields -0.58 with Next year EPS estimates of 0.86. For the next quarter, that number is 0.29. This implies an EPS growth rate of -10.19% for this year and -11.00% for next year.
Float and Shares Shorts:
At present, 78.62 million BGS shares are outstanding with a float of 76.59 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.54 million, which was 10.86% higher than short shares on Sep 28, 2023. In addition to Mr. Kenneth Charles Keller Jr. as the firm’s President, CEO & Director, Mr. Bruce C. Wacha serves as its CFO & Executive VP of Finance.
Through their ownership of 65.67% of BGS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.49% of BGS, in contrast to 30.31% held by mutual funds. Shares owned by individuals account for 3.78%. As the largest shareholder in BGS with 14.32% of the stake, BlackRock Fund Advisors holds 10,352,764 shares worth 10,352,764. A second-largest stockholder of BGS, The Vanguard Group, Inc., holds 8,731,505 shares, controlling over 12.08% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in BGS, holding 2,672,066 shares or 3.70% stake. With a 6.72% stake in BGS, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 4,860,256 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 17.84 million. Vanguard Small Cap Index Fund holds 2.44% of the stake in BGS, owning 1,764,847 shares worth 14.24 million.
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 $12.00 and a low target of $7.00, the average target price over the next 12 months is $9.33. Based on these targets, BGS could surge 26.98% to reach the target high and fall by -25.93% to reach the target low. Reaching the average price target will result in a decline of -1.27% from current levels.
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 25 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 459,836 while 107,667 shares were sold.