B. Riley Wealth Advisors Inc. Has $94,000 Position in B&G Foods, Inc. (NYSE:BGS)

B. Riley Wealth Advisors Inc. cut its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 14.3% during the third quarter, HoldingsChannel.com reports. The firm owned 10,563 shares of the company’s stock after selling 1,761 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in B&G Foods were worth $94,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of B&G Foods by 33.9% during the 2nd 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 in the last quarter. Geode Capital Management LLC grew its stake in B&G Foods by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after purchasing an additional 24,995 shares in the last quarter. American Century Companies Inc. grew its stake in B&G Foods by 71.3% in 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 in the last quarter. Bank of New York Mellon Corp increased its position in B&G Foods by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock worth $9,696,000 after purchasing an additional 5,842 shares during the last quarter. Finally, Dana Investment Advisors Inc. raised its stake in shares of B&G Foods by 23.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after purchasing an additional 134,937 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of B&G Foods stock opened at $7.27 on Monday. 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 company has a market cap of $575.52 million, a PE ratio of -21.38 and a beta of 0.54. The firm has a fifty day moving average price of $7.43 and a two-hundred day moving average price of $8.10. B&G Foods, Inc. has a fifty-two week low of $6.12 and a fifty-two week 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 the consensus estimate 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 company had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. During the same quarter in the previous year, the business posted $0.27 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. Analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders 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 dividend yield of 10.45%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is presently -223.53%.

Insider Activity

In related news, EVP Scott E. Lerner acquired 7,611 shares of the stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the purchase, the executive vice president now owns 196,755 shares in the company, valued at approximately $1,292,680.35. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Sherrill bought 70,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $6.63 per share, with a total value of $464,100.00. Following the completion of the acquisition, the director now owns 353,084 shares in the company, valued at $2,340,946.92. This represents a 24.73 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 90,111 shares of company stock worth $593,054. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BGS. TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Barclays decreased their target price 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 upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Evercore ISI lowered 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, November 6th. One 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 currently has a consensus rating of “Hold” and an average target price of $8.30.

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.