Louisiana State Employees Retirement System Sells 1,500 Shares of B&G Foods, Inc. (NYSE:BGS)

Louisiana State Employees Retirement System decreased its holdings in B&G Foods, Inc. (NYSE:BGS) by 3.8% in the third quarter, Holdings Channel reports. The fund owned 38,300 shares of the company’s stock after selling 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in B&G Foods were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BGS. Innealta Capital LLC bought a new stake in B&G Foods in the second quarter worth about $33,000. nVerses Capital LLC bought a new stake in B&G Foods in the second quarter worth about $33,000. Russell Investments Group Ltd. lifted its stake in B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after purchasing an additional 4,624 shares during the last quarter. LRI Investments LLC bought a new stake in B&G Foods in the first quarter worth about $60,000. Finally, Versant Capital Management Inc lifted its stake in B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after purchasing an additional 1,555 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

BGS has been the subject of several analyst reports. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays reduced their target price on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Piper Sandler reduced their target price on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. 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 report on Wednesday. Finally, Evercore ISI reduced their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.50.

Insider Activity at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’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 value of $66,640.00. Following the completion of the sale, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

B&G Foods Stock Performance

Shares of BGS stock opened at $7.07 on Thursday. The firm has a market cap of $559.27 million, a price-to-earnings ratio of -4.59 and a beta of 0.61. The company’s 50 day moving average is $8.58 and its 200 day moving average is $8.82. 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, Inc. has a 52-week low of $7.02 and a 52-week high of $11.97.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. On average, sell-side analysts anticipate that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.76%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is -49.35%.

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.