Landscape Capital Management L.L.C. Acquires New Position in B&G Foods, Inc. (NYSE:BGS)

Landscape Capital Management L.L.C. bought a new position in shares of B&G Foods, Inc. (NYSE:BGS) during the third quarter, HoldingsChannel reports. The firm bought 135,197 shares of the company’s stock, valued at approximately $1,201,000.

Other hedge funds also recently made changes to their positions in the company. Dana Investment Advisors Inc. lifted its stake in B&G Foods by 23.5% during the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after purchasing an additional 134,937 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of B&G Foods during the second quarter worth $958,000. ProShare Advisors LLC lifted its position in shares of B&G Foods by 16.1% in the 1st quarter. ProShare Advisors LLC now owns 15,697 shares of the company’s stock worth $180,000 after buying an additional 2,180 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of B&G Foods by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock worth $898,000 after buying an additional 2,466 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of B&G Foods by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock valued at $628,000 after buying an additional 3,979 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at B&G Foods

In other B&G Foods news, EVP Eric H. Hart acquired 5,000 shares of B&G Foods stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the transaction, the executive vice president now owns 88,899 shares in the company, valued at approximately $555,618.75. This trade represents a 5.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the sale, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 90,111 shares of company stock worth $593,054 over the last quarter. 3.20% of the stock is currently owned by company insiders.

B&G Foods Stock Up 2.4 %

Shares of B&G Foods stock opened at $6.54 on Friday. B&G Foods, Inc. has a 1-year low of $6.12 and a 1-year high of $11.97. The company has a market capitalization of $517.31 million, a P/E ratio of -18.76 and a beta of 0.61. The business’s fifty day moving average price is $8.12 and its two-hundred day moving average price is $8.47. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49.

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

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.63%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

B&G Foods 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.