Insider Buying: B&G Foods, Inc. (NYSE:BGS) EVP Purchases 7,611 Shares of Stock

B&G Foods, Inc. (NYSE:BGS) EVP Scott E. Lerner acquired 7,611 shares of B&G Foods stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the transaction, the executive vice president now directly owns 196,755 shares in the company, valued at approximately $1,292,680.35. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

B&G Foods Trading Down 1.6 %

Shares of B&G Foods stock traded down $0.10 during midday trading on Friday, reaching $6.50. 2,496,375 shares of the company’s stock traded hands, compared to its average volume of 1,058,881. The company has a market cap of $514.17 million, a PE ratio of -19.10 and a beta of 0.61. The stock has a 50 day moving average of $8.55 and a 200-day moving average of $8.80. B&G Foods, Inc. has a 12 month low of $6.46 and a 12 month high of $11.97. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.48 and a current ratio of 1.63.

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 the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The company had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, equities analysts expect that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed 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. This represents a $0.76 annualized dividend and a yield of 11.70%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s dividend payout ratio (DPR) is -223.53%.

Institutional Trading of B&G Foods

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of B&G Foods by 97.9% in 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. Janney Montgomery Scott LLC raised its holdings in B&G Foods by 6.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 261,106 shares of the company’s stock worth $2,987,000 after acquiring an additional 15,672 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in B&G Foods by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 68,433 shares of the company’s stock valued at $783,000 after purchasing an additional 960 shares during the last quarter. Empowered Funds LLC boosted its stake in B&G Foods by 52.4% during the 1st quarter. Empowered Funds LLC now owns 277,940 shares of the company’s stock valued at $3,180,000 after purchasing an additional 95,580 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of B&G Foods by 36.7% in the 1st quarter. SG Americas Securities LLC now owns 17,231 shares of the company’s stock worth $197,000 after purchasing an additional 4,623 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BGS. Piper Sandler reduced their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Evercore ISI decreased their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday. Barclays lowered their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, TD Cowen lowered their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.