B&G Foods, Inc. (NYSE:BGS) EVP Purchases $31,250.00 in Stock

B&G Foods, Inc. (NYSE:BGS) EVP Eric H. Hart bought 5,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares in the company, valued at approximately $555,618.75. This trade represents a 5.96 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

B&G Foods Trading Down 1.3 %

Shares of NYSE BGS opened at $6.28 on Thursday. The firm has a 50 day moving average price of $8.17 and a two-hundred day moving average price of $8.49. The stock has a market cap of $496.75 million, a P/E ratio of -18.46 and a beta of 0.61. B&G Foods, Inc. has a 52-week low of $6.14 and a 52-week high of $11.97. 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 (NYSE:BGS) last released its 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). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same period in the prior year, the company posted $0.27 EPS. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities analysts forecast that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors 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 dividend on an annualized basis and a dividend yield of 12.11%. B&G Foods’s payout ratio is presently -223.53%.

Hedge Funds Weigh In On B&G Foods

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in B&G Foods by 97.9% during 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 raised its holdings in shares of B&G Foods by 36.7% in the first quarter. SG Americas Securities LLC now owns 17,231 shares of the company’s stock valued at $197,000 after purchasing an additional 4,623 shares during the last quarter. Swiss National Bank lifted its position in shares of B&G Foods by 8.9% during the first quarter. Swiss National Bank now owns 155,200 shares of the company’s stock valued at $1,775,000 after purchasing an additional 12,700 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in B&G Foods by 1,556.9% during the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after purchasing an additional 4,624 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in 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 purchasing an additional 2,180 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BGS shares. 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 report on Wednesday, November 6th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. TD Cowen decreased their price objective on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated 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. Finally, Barclays reduced their price target on 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.