Advisors Asset Management Inc. Has $113,000 Holdings in B&G Foods, Inc. (NYSE:BGS)

Advisors Asset Management Inc. trimmed its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 45.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,724 shares of the company’s stock after selling 10,401 shares during the period. Advisors Asset Management Inc.’s holdings in B&G Foods were worth $113,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC grew its holdings in shares of B&G Foods by 34.1% during the third quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after purchasing an additional 1,400 shares during the last quarter. Versant Capital Management Inc grew its holdings in B&G Foods by 36.9% during the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after acquiring an additional 1,555 shares during the last quarter. Rhumbline Advisers raised its stake in shares of B&G Foods by 0.7% in the second quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock worth $2,010,000 after acquiring an additional 1,625 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of B&G Foods by 3.0% during the second quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock worth $450,000 after purchasing an additional 1,636 shares in the last quarter. Finally, PFG Investments LLC grew its stake in shares of B&G Foods by 12.5% during the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock valued at $160,000 after purchasing an additional 2,008 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Barclays dropped their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI dropped their price objective on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. Finally, TD Cowen reduced their target price on shares of 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. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.30.

Insiders Place Their Bets

In other B&G Foods news, EVP Eric H. Hart purchased 5,000 shares of the stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at $555,618.75. The trade was a 5.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the acquisition, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. This represents a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 90,111 shares of company stock worth $593,054. Company insiders own 3.20% of the company’s stock.

B&G Foods Price Performance

Shares of B&G Foods stock opened at $6.68 on Friday. The business has a fifty day simple moving average of $7.82 and a 200 day simple moving average of $8.34. The stock has a market cap of $528.82 million, a PE ratio of -19.65 and a beta of 0.61. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a 12 month low of $6.12 and a 12 month high of $11.97.

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

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 11.38%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is presently -223.53%.

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.