B&G Foods, Inc. (NYSE:BGS) EVP Eric H. Hart Acquires 5,000 Shares

B&G Foods, Inc. (NYSE:BGS) EVP Eric H. Hart acquired 5,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the purchase, the executive vice president now directly owns 88,899 shares in the company, valued at $555,618.75. This trade represents a 5.96 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

B&G Foods Trading Down 1.3 %

Shares of BGS stock opened at $6.28 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. B&G Foods, Inc. has a 52-week low of $6.14 and a 52-week high of $11.97. The stock has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $8.49. The firm has a market capitalization of $496.75 million, a PE ratio of -18.46 and a beta of 0.61.

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

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 12.11%. B&G Foods’s dividend payout ratio is currently -223.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in shares of B&G Foods by 97.9% in the first quarter. BNP Paribas Financial Markets now owns 38,965 shares of the company’s stock worth $446,000 after buying an additional 19,277 shares in the last quarter. SG Americas Securities LLC increased its stake in B&G Foods by 36.7% in the 1st quarter. SG Americas Securities LLC now owns 17,231 shares of the company’s stock worth $197,000 after acquiring an additional 4,623 shares during the last quarter. Swiss National Bank increased its stake in B&G Foods by 8.9% in the 1st quarter. Swiss National Bank now owns 155,200 shares of the company’s stock worth $1,775,000 after acquiring an additional 12,700 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of B&G Foods by 1,556.9% during the 1st 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 in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of B&G Foods by 16.1% in the first quarter. ProShare Advisors LLC now owns 15,697 shares of the company’s stock valued at $180,000 after purchasing an additional 2,180 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

Analysts Set New Price Targets

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

About B&G Foods

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.