Foundry Partners LLC Purchases 3,235 Shares of B&G Foods, Inc. (NYSE:BGS)

Foundry Partners LLC increased its stake in B&G Foods, Inc. (NYSE:BGS) by 1.3% in the third quarter, Holdings Channel.com reports. The firm owned 245,235 shares of the company’s stock after purchasing an additional 3,235 shares during the quarter. Foundry Partners LLC’s holdings in B&G Foods were worth $2,178,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in shares of B&G Foods during the second quarter worth about $33,000. nVerses Capital LLC purchased a new stake in shares of B&G Foods in the second quarter valued at $33,000. Russell Investments Group Ltd. boosted its holdings 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 valued at $56,000 after buying an additional 4,624 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of B&G Foods during the 1st quarter worth approximately $60,000. Finally, Versant Capital Management Inc raised its holdings in shares of 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 acquiring an additional 1,555 shares during the period. 66.15% of the stock is owned by institutional investors.

B&G Foods Price Performance

NYSE:BGS opened at $6.39 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $505.44 million, a PE ratio of -18.78 and a beta of 0.61. B&G Foods, Inc. has a 1-year low of $6.12 and a 1-year high of $11.97. The firm has a fifty day simple moving average of $8.17 and a 200 day simple moving average of $8.49.

B&G Foods (NYSE:BGS) last released 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 firm had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, research analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.90%. B&G Foods’s dividend payout ratio is currently -223.52%.

Insider Buying and Selling

In other news, EVP Andrew D. Vogel bought 7,500 shares of the stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $6.36 per share, with a total value of $47,700.00. Following the completion of the purchase, the executive vice president now owns 37,064 shares of the company’s stock, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $66,640.00. Following the completion of the sale, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 90,111 shares of company stock valued at $593,054. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI reduced their price target on 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. Barclays cut their target price 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, November 7th. TD Cowen decreased their price objective on shares of 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. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. 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, B&G Foods currently has a consensus rating of “Hold” and an average 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.