B&G Foods, Inc. (NYSE:BGS) EVP Scott E. Lerner Purchases 7,611 Shares

B&G Foods, Inc. (NYSE:BGS) EVP Scott E. Lerner acquired 7,611 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the purchase, the executive vice president now owns 196,755 shares of the company’s stock, valued at $1,292,680.35. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

B&G Foods Stock Performance

BGS stock opened at $6.49 on Friday. The firm has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $8.75. 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, Inc. has a one year low of $6.46 and a one year high of $11.97. The firm has a market cap of $513.75 million, a price-to-earnings ratio of -19.09 and a beta of 0.61.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, November 5th. The company reported $0.13 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 firm had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same period in the previous year, the company earned $0.27 EPS. The company’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts forecast that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

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

Analysts Set New Price Targets

BGS has been the subject of several research reports. 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 report on Wednesday. Evercore ISI dropped 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 report on Wednesday. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. 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 report on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.30.

Institutional Investors Weigh In On B&G Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its stake in shares of B&G Foods by 52.4% during the first quarter. Empowered Funds LLC now owns 277,940 shares of the company’s stock worth $3,180,000 after acquiring an additional 95,580 shares during the last quarter. Dana Investment Advisors Inc. increased its stake in B&G Foods by 23.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after purchasing an additional 134,937 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of B&G Foods in the second quarter worth $958,000. 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 worth $197,000 after buying an additional 4,623 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of B&G Foods by 16.1% during the first quarter. ProShare Advisors LLC now owns 15,697 shares of the company’s stock worth $180,000 after buying an additional 2,180 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

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.