Eric H. Hart Buys 5,000 Shares of B&G Foods, Inc. (NYSE:BGS) Stock

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

B&G Foods Stock Up 0.7 %

Shares of BGS stock traded up $0.04 during trading hours on Monday, reaching $6.26. The company had a trading volume of 1,856,990 shares, compared to its average volume of 1,089,093. 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, Inc. has a twelve month low of $6.14 and a twelve month high of $11.97. The company has a market capitalization of $495.15 million, a P/E ratio of -18.38 and a beta of 0.61. The stock’s fifty day simple moving average is $8.30 and its 200 day simple moving average is $8.57.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) 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 company had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. During the same quarter last year, the business posted $0.27 EPS. B&G Foods’s quarterly revenue was down 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 12.15%. B&G Foods’s dividend payout ratio (DPR) is currently -223.52%.

Wall Street Analyst Weigh In

Several brokerages have commented on BGS. Evercore ISI dropped their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. 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. TD Cowen dropped their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Barclays dropped their price target 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. Finally, StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, B&G Foods presently has an average rating of “Hold” and an average price target of $8.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in B&G Foods in the second quarter valued at about $33,000. nVerses Capital LLC purchased a new position in B&G Foods in the second quarter valued at about $33,000. Versant Capital Management Inc boosted its holdings in B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after purchasing an additional 1,555 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in B&G Foods by 1,556.9% in the first 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 last quarter. Finally, LRI Investments LLC purchased a new position in B&G Foods in the first quarter valued at about $60,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

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.