Insider Selling: B&G Foods, Inc. (NYSE:BGS) EVP Sells 8,000 Shares of Stock

B&G Foods, Inc. (NYSE:BGS) EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

B&G Foods Price Performance

Shares of NYSE BGS opened at $8.33 on Thursday. The company has a fifty day moving average price of $8.27 and a 200 day moving average price of $9.52. The firm has a market cap of $658.49 million, a PE ratio of -5.78 and a beta of 0.61. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. B&G Foods, Inc. has a 1-year low of $7.20 and a 1-year high of $12.49.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. 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 $444.60 million during the quarter, compared to analysts’ expectations of $435.83 million. During the same period in the prior year, the firm earned $0.15 earnings per share. B&G Foods’s revenue for the quarter was down 5.3% compared to the same quarter last year. Research analysts predict that B&G Foods, Inc. will post 0.74 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.12%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Analysts Set New Price Targets

BGS has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 price objective 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 report on Saturday, August 17th. Evercore ISI raised B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Barclays reduced their target price on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Finally, Piper Sandler lowered their price target on B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.88.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BGS. Vanguard Group Inc. lifted its position in B&G Foods by 13.4% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of B&G Foods by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after acquiring an additional 485,714 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in B&G Foods by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock worth $18,450,000 after acquiring an additional 181,724 shares in the last quarter. American Century Companies Inc. boosted its position in B&G Foods by 71.3% during the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock valued at $13,254,000 after purchasing an additional 682,688 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in B&G Foods by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after purchasing an additional 5,842 shares in the last quarter. Institutional investors and hedge funds own 66.15% 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.