Insider Buying: B&G Foods, Inc. (NYSE:BGS) EVP Acquires 7,500 Shares of Stock

B&G Foods, Inc. (NYSE:BGS) EVP Andrew D. Vogel purchased 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $6.36 per share, with a total value of $47,700.00. Following the completion of the purchase, the executive vice president now directly owns 37,064 shares in the company, valued at $235,727.04. The trade was a 25.37 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

B&G Foods Trading Down 1.3 %

NYSE:BGS opened at $6.21 on Friday. The firm has a market cap of $491.58 million, a P/E ratio of -18.26 and a beta of 0.61. The firm has a 50-day simple moving average of $8.30 and a 200-day simple moving average of $8.61. 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 one year low of $6.20 and a one year high of $11.97.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. Equities analysts anticipate that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued 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 dividend yield of 12.24%. B&G Foods’s dividend payout ratio (DPR) is currently -223.52%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI decreased their target price 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, November 6th. TD Cowen lowered their price objective on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research note on Wednesday, August 7th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Barclays dropped their price objective 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, November 7th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the 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 Trading of B&G Foods

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in B&G Foods by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after purchasing an additional 485,714 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of B&G Foods by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after buying an additional 24,995 shares during the last quarter. American Century Companies Inc. increased its position in shares of B&G Foods by 71.3% in the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock valued at $13,254,000 after acquiring an additional 682,688 shares during the period. Bank of New York Mellon Corp raised its stake in B&G Foods by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock worth $9,696,000 after acquiring an additional 5,842 shares during the last quarter. Finally, Dana Investment Advisors Inc. lifted its position 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 worth $5,739,000 after acquiring an additional 134,937 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.