SeaCrest Wealth Management LLC Has $174,000 Position in B&G Foods, Inc. (NYSE:BGS)

SeaCrest Wealth Management LLC lifted its position in shares of B&G Foods, Inc. (NYSE:BGS) by 12.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,170 shares of the company’s stock after purchasing an additional 1,700 shares during the period. SeaCrest Wealth Management LLC’s holdings in B&G Foods were worth $174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in B&G Foods by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock worth $105,453,000 after buying an additional 1,190,116 shares during the last quarter. Invesco Ltd. increased its holdings in shares of B&G Foods by 72.7% during the 3rd quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock worth $10,760,000 after acquiring an additional 458,082 shares during the last quarter. Savoir Faire Capital Management L.P. bought a new stake in B&G Foods in the 3rd quarter valued at $3,698,000. Teacher Retirement System of Texas acquired a new stake in B&G Foods during the 4th quarter valued at $2,561,000. Finally, Trexquant Investment LP boosted its position in B&G Foods by 368.1% during the fourth quarter. Trexquant Investment LP now owns 245,783 shares of the company’s stock worth $2,581,000 after purchasing an additional 193,281 shares during the period. 66.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BGS. Piper Sandler raised shares of B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Thursday, May 16th. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

B&G Foods Stock Down 0.9 %

BGS opened at $7.84 on Friday. The stock has a fifty day moving average of $9.28 and a 200-day moving average of $10.13. The company has a market capitalization of $619.75 million, a P/E ratio of -5.44 and a beta of 0.61. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.15. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.92 and a current ratio of 3.22.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $475.22 million for the quarter, compared to the consensus estimate of $480.93 million. B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. B&G Foods’s revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. On average, equities analysts expect that B&G Foods, Inc. will post 0.79 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Friday, June 28th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 9.69%. The ex-dividend date is Friday, June 28th. B&G Foods’s dividend payout ratio is currently -52.78%.

Insiders Place Their Bets

In related news, EVP Scott E. Lerner bought 11,755 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $8.51 per share, for a total transaction of $100,035.05. Following the transaction, the executive vice president now owns 189,144 shares in the company, valued at approximately $1,609,615.44. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Scott E. Lerner purchased 11,755 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $8.51 per share, with a total value of $100,035.05. Following the completion of the purchase, the executive vice president now directly owns 189,144 shares in the company, valued at $1,609,615.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce C. Wacha acquired 5,200 shares of B&G Foods stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $8.59 per share, for a total transaction of $44,668.00. Following the completion of the purchase, the chief financial officer now directly owns 91,328 shares of the company’s stock, valued at $784,507.52. The disclosure for this purchase can be found here. Insiders have purchased a total of 141,955 shares of company stock worth $1,218,453 in the last 90 days. Company insiders own 3.20% of the company’s stock.

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.