B&G Foods, Inc. (NYSE:BGS) Director Stephen Sherrill Buys 70,000 Shares

B&G Foods, Inc. (NYSE:BGS) Director Stephen Sherrill purchased 70,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now owns 353,084 shares of the company’s stock, valued at approximately $2,340,946.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

B&G Foods Stock Performance

NYSE BGS opened at $6.50 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $514.17 million, a PE ratio of -19.10 and a beta of 0.61. The business’s 50-day moving average price is $8.51 and its 200 day moving average price is $8.77. B&G Foods, Inc. has a twelve month low of $6.46 and a twelve month high of $11.97.

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 analysts’ consensus estimates of $0.20 by ($0.07). The company had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. On average, research analysts predict that B&G Foods, Inc. will post 0.74 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.70%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is currently -223.53%.

Institutional Trading of B&G Foods

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in B&G Foods by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after buying an additional 485,714 shares during the period. American Century Companies Inc. boosted its position in B&G Foods by 71.3% during the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after purchasing an additional 682,688 shares during the period. Bank of New York Mellon Corp raised its position in B&G Foods by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after purchasing an additional 5,842 shares during the period. Dana Investment Advisors Inc. lifted its stake in shares of 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 in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its position in shares of B&G Foods by 5.8% in the third quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company’s stock worth $5,652,000 after buying an additional 34,768 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

Analysts Set New Price Targets

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