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

B&G Foods, Inc. (NYSE:BGS) EVP Scott E. Lerner purchased 7,611 shares of the company’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the purchase, the executive vice president now owns 196,755 shares of the company’s stock, valued at approximately $1,292,680.35. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

B&G Foods Stock Down 1.6 %

Shares of NYSE BGS opened at $6.50 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The company has a 50-day moving average price of $8.51 and a 200-day moving average price of $8.77. The stock has a market capitalization of $514.17 million, a P/E ratio of -19.10 and a beta of 0.61. B&G Foods, Inc. has a 1 year low of $6.46 and a 1 year high of $11.97.

B&G Foods (NYSE:BGS) last announced its quarterly 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). The business had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. B&G Foods’s revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. On average, equities research analysts forecast that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 11.70%. B&G Foods’s dividend payout ratio (DPR) is currently -223.53%.

Institutional Investors Weigh In On B&G Foods

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in B&G Foods by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after buying an additional 485,714 shares during the last quarter. American Century Companies Inc. increased its position in shares of B&G Foods by 71.3% during the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock valued at $13,254,000 after acquiring an additional 682,688 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in B&G Foods by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock worth $9,696,000 after acquiring an additional 5,842 shares during the period. Dana Investment Advisors Inc. boosted its position in B&G Foods by 23.5% in the second 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 during the last quarter. Finally, Gilman Hill Asset Management LLC grew its stake in B&G Foods by 5.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company’s stock valued at $5,652,000 after purchasing an additional 34,768 shares during the period. 66.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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