Regent Peak Wealth Advisors LLC Takes Position in B&G Foods, Inc. (NYSE:BGS)

Regent Peak Wealth Advisors LLC acquired a new position in B&G Foods, Inc. (NYSE:BGS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,730 shares of the company’s stock, valued at approximately $81,000.

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in 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 purchasing an additional 682,688 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 buying an additional 485,714 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of B&G Foods by 154.0% during the 2nd quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock worth $5,065,000 after acquiring an additional 380,054 shares during the last quarter. Verition Fund Management LLC grew its position in B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock worth $3,369,000 after acquiring an additional 368,799 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. increased its stake in B&G Foods by 37.5% in the second quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock valued at $4,268,000 after acquiring an additional 144,146 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Trading Down 1.4 %

B&G Foods stock traded down $0.10 during trading hours on Tuesday, reaching $6.93. The company had a trading volume of 661,493 shares, compared to its average volume of 1,152,046. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods, Inc. has a 12-month low of $6.12 and a 12-month high of $11.97. The company has a 50-day moving average price of $7.13 and a 200 day moving average price of $7.96. The firm has a market cap of $548.61 million, a price-to-earnings ratio of -20.38 and a beta of 0.51.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Equities analysts forecast that B&G Foods, Inc. will post 0.73 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.97%. B&G Foods’s dividend payout ratio is currently -223.53%.

Insider Buying and Selling

In related news, EVP Eric H. Hart purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares in the company, valued at approximately $555,618.75. The trade was a 5.96 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew D. Vogel acquired 7,500 shares of B&G Foods stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the transaction, the executive vice president now owns 37,064 shares in the company, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 90,111 shares of company stock valued at $593,054 over the last ninety days. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen dropped 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. 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, November 6th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Barclays lowered their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.30.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.