Insider Buying: B&G Foods, Inc. (NYSE:BGS) EVP Buys 5,000 Shares of Stock

B&G Foods, Inc. (NYSE:BGS) EVP Eric H. Hart purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost 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 document filed with the SEC, which is accessible through this link.

B&G Foods Stock Performance

NYSE BGS opened at $6.26 on Tuesday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The company’s fifty day moving average is $8.30 and its two-hundred day moving average is $8.57. B&G Foods, Inc. has a 52-week low of $6.14 and a 52-week high of $11.97. The firm has a market capitalization of $495.15 million, a price-to-earnings ratio of -18.38 and a beta of 0.61.

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 analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. Equities research analysts forecast that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

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

Institutional Investors Weigh In On B&G Foods

A number of institutional investors have recently added to or reduced their stakes in BGS. Innealta Capital LLC acquired a new position in shares of B&G Foods in the 2nd quarter worth approximately $33,000. nVerses Capital LLC acquired a new position in B&G Foods during the second quarter worth $33,000. Versant Capital Management Inc lifted its holdings 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 valued at $47,000 after acquiring an additional 1,555 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of 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 purchasing an additional 4,624 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of B&G Foods during the 1st quarter worth about $60,000. 66.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on BGS shares. Evercore ISI reduced their target price on shares of 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. TD Cowen cut their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a research report on Wednesday, August 7th. Barclays dropped their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report 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 research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.