B&G Foods, Inc. (NYSE:BGS) EVP Scott E. Lerner Acquires 7,611 Shares of Stock

B&G Foods, Inc. (NYSE:BGS) EVP Scott E. Lerner acquired 7,611 shares of the business’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $6.57 per share, with a total value of $50,004.27. Following the acquisition, the executive vice president now directly owns 196,755 shares in the company, valued at approximately $1,292,680.35. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $6.50 on Friday. The company’s 50 day moving average price is $8.51 and its two-hundred day moving average price is $8.77. The firm has a market capitalization of $514.17 million, a P/E ratio of -19.10 and a beta of 0.61. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. B&G Foods, Inc. has a fifty-two week low of $6.46 and a fifty-two 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 for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm 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 8.07% and a negative net margin of 5.82%. The company’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities analysts forecast that B&G Foods, Inc. will post 0.74 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

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 $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.70%. B&G Foods’s dividend payout ratio (DPR) is presently -223.53%.

Institutional Investors Weigh In On B&G Foods

Several hedge funds have recently added to or reduced their stakes in BGS. Innealta Capital LLC bought a new stake in shares of B&G Foods in the 2nd quarter valued at about $33,000. nVerses Capital LLC acquired a new stake in B&G Foods during the 2nd quarter valued at approximately $33,000. Versant Capital Management Inc raised 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 purchasing an additional 1,555 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of B&G Foods by 1,556.9% in the 1st 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 period. Finally, LRI Investments LLC bought a new stake in shares of B&G Foods in the 1st quarter valued at $60,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BGS has been the subject of several recent research reports. Barclays cut their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada restated a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Evercore ISI cut their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday. Finally, TD Cowen decreased their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.30.

About B&G Foods

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.