Scott E. Lerner Buys 7,611 Shares of B&G Foods, Inc. (NYSE:BGS) Stock

B&G Foods, Inc. (NYSE:BGS) EVP Scott E. Lerner purchased 7,611 shares of B&G Foods stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $6.57 per share, with a total value of $50,004.27. Following the completion of the purchase, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at approximately $1,292,680.35. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

B&G Foods Stock Performance

NYSE BGS traded down $0.10 on Friday, hitting $6.50. 2,496,375 shares of the company traded hands, compared to its average volume of 1,058,881. The business’s 50 day moving average price is $8.55 and its 200-day moving average price is $8.80. B&G Foods, Inc. has a 52-week low of $6.46 and a 52-week high of $11.97. 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 price-to-earnings ratio of -19.10 and a beta of 0.61.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The company 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 8.07% and a negative net margin of 5.82%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. Equities analysts expect that B&G Foods, Inc. will post 0.74 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given 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 dividend yield of 11.70%. B&G Foods’s payout ratio is currently -223.53%.

Institutional Trading of B&G Foods

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC bought a new position in B&G Foods in the 2nd quarter worth $33,000. nVerses Capital LLC bought a new position in shares of B&G Foods in the second quarter worth about $33,000. Versant Capital Management Inc grew its position in shares of 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 purchasing an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. raised its stake in 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 valued at $56,000 after purchasing an additional 4,624 shares during the period. Finally, LRI Investments LLC bought a new stake in B&G Foods during the 1st quarter valued at approximately $60,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on BGS. Piper Sandler cut their target price on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Barclays dropped their price target 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. Evercore ISI reduced their price objective on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. 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 note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, B&G Foods has an average 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.