Stephen Sherrill Acquires 70,000 Shares of B&G Foods, Inc. (NYSE:BGS) Stock

B&G Foods, Inc. (NYSE:BGS) Director Stephen Sherrill bought 70,000 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

B&G Foods Stock Down 1.7 %

BGS opened at $6.49 on Friday. The stock has a fifty day moving average of $8.51 and a 200-day moving average of $8.75. The company has a market capitalization of $513.75 million, a P/E ratio of -19.09 and a beta of 0.61. B&G Foods, Inc. has a fifty-two week low of $6.46 and a fifty-two week high of $11.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.48 and a current ratio of 1.64.

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 the consensus estimate of $0.20 by ($0.07). The business had revenue of $461.10 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. On average, equities analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.71%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s dividend payout ratio (DPR) is currently -223.52%.

Hedge Funds Weigh In On B&G Foods

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

Analysts Set New Price Targets

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