B&G Foods, Inc. (NYSE:BGS) Shares Sold by PFG Investments LLC

PFG Investments LLC trimmed its holdings in B&G Foods, Inc. (NYSE:BGS) by 19.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 16,037 shares of the company’s stock after selling 3,968 shares during the quarter. PFG Investments LLC’s holdings in B&G Foods were worth $130,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in B&G Foods by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after buying an additional 1,190,116 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of B&G Foods during the 1st quarter worth approximately $2,835,000. Trexquant Investment LP grew its stake in B&G Foods by 368.1% in the 4th quarter. Trexquant Investment LP now owns 245,783 shares of the company’s stock worth $2,581,000 after acquiring an additional 193,281 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of B&G Foods by 11.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock valued at $18,450,000 after buying an additional 181,724 shares during the period. Finally, Cove Private Wealth LLC purchased a new stake in B&G Foods during the 2nd quarter worth $929,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

BGS has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Piper Sandler decreased their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, Barclays cut their target price on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, B&G Foods presently has an average rating of “Hold” and a consensus target price of $8.88.

B&G Foods Stock Performance

Shares of BGS opened at $9.14 on Friday. The company’s fifty day moving average is $8.37 and its 200-day moving average is $9.48. B&G Foods, Inc. has a 12 month low of $7.20 and a 12 month high of $11.97. The firm has a market cap of $723.52 million, a price-to-earnings ratio of -6.35 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company had revenue of $444.60 million for the quarter, compared to the consensus estimate of $435.83 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 8.32%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

B&G Foods 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.