Insider Buying: B&G Foods, Inc. (NYSE:BGS) EVP Purchases 7,500 Shares of Stock

B&G Foods, Inc. (NYSE:BGS) EVP Andrew D. Vogel bought 7,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the executive vice president now directly owns 37,064 shares of the company’s stock, valued at $235,727.04. This represents a 25.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

B&G Foods Stock Performance

BGS opened at $6.30 on Friday. B&G Foods, Inc. has a 12 month low of $6.25 and a 12 month high of $11.97. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The business’s 50-day moving average price is $8.40 and its 200-day moving average price is $8.66.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The company had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. On average, analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 12.07%. B&G Foods’s payout ratio is currently -223.52%.

Institutional Investors Weigh In On B&G Foods

Large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of B&G Foods in the 2nd quarter worth approximately $33,000. nVerses Capital LLC purchased a new stake in B&G Foods in the second quarter worth $33,000. Russell Investments Group Ltd. lifted its stake in B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after acquiring an additional 4,624 shares during the period. LRI Investments LLC bought a new stake in B&G Foods in the first quarter valued at $60,000. Finally, Versant Capital Management Inc increased its position in B&G Foods by 36.9% during the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after purchasing an additional 1,555 shares during the period. Institutional investors own 66.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen lowered their price objective on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI dropped their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. Barclays reduced their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.30.

B&G Foods Company Profile

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. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.