BNP Paribas Financial Markets Decreases Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

BNP Paribas Financial Markets lessened its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 64.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,111 shares of the company’s stock after selling 31,152 shares during the quarter. BNP Paribas Financial Markets’ holdings in B&G Foods were worth $152,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. nVerses Capital LLC grew its holdings in shares of B&G Foods by 34.1% in the third quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after acquiring an additional 1,400 shares during the period. Rhumbline Advisers grew its stake in shares of B&G Foods by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock valued at $2,010,000 after purchasing an additional 1,625 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of B&G Foods by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock valued at $450,000 after purchasing an additional 1,636 shares during the period. PFG Investments LLC increased its position in shares of B&G Foods by 12.5% during the 3rd 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. Finally, Versor Investments LP lifted its stake in shares of B&G Foods by 13.4% in the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after purchasing an additional 2,862 shares during the period. 66.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BGS has been the subject of several recent research reports. Evercore ISI cut their target price on shares of 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. Barclays cut their price objective on shares of 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. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, TD Cowen cut their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.30.

B&G Foods Stock Performance

BGS opened at $7.75 on Wednesday. The company has a 50 day simple moving average of $7.47 and a two-hundred day simple moving average of $8.16. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a market cap of $613.13 million, a P/E ratio of -22.82 and a beta of 0.54. B&G Foods, Inc. has a 1-year low of $6.12 and a 1-year high of $11.97.

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

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 9.81%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s dividend payout ratio is currently -223.53%.

Insider Buying and Selling

In other news, EVP Andrew D. Vogel bought 7,500 shares of B&G Foods stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average cost of $6.36 per share, with a total value of $47,700.00. Following the completion of the acquisition, the executive vice president now owns 37,064 shares of the company’s stock, valued at $235,727.04. This trade represents a 25.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric H. Hart bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the transaction, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at $555,618.75. This represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is owned by corporate insiders.

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.