B&G Foods (NYSE:BGS) EVP Andrew Vogel Sells 20,000 Shares
by Doug Wharley · The Cerbat GemB&G Foods, Inc. (NYSE:BGS – Get Free Report) EVP Andrew Vogel sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $103,800.00. Following the completion of the transaction, the executive vice president owned 50,679 shares in the company, valued at $263,024.01. This represents a 28.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
B&G Foods Trading Down 0.8%
Shares of NYSE BGS traded down $0.04 during mid-day trading on Friday, hitting $5.22. The stock had a trading volume of 2,206,653 shares, compared to its average volume of 2,524,826. The business has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $4.60. B&G Foods, Inc. has a 1 year low of $3.67 and a 1 year high of $7.49. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.43 and a current ratio of 3.32. The firm has a market cap of $417.44 million, a P/E ratio of -9.67 and a beta of 0.46.
B&G Foods (NYSE:BGS – Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The business had revenue of $539.56 million during the quarter, compared to analysts’ expectations of $537.50 million. During the same quarter in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.
B&G Foods Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 14.6%. B&G Foods’s dividend payout ratio (DPR) is presently -140.74%.
Analyst Ratings Changes
A number of research analysts have commented on BGS shares. TD Cowen reaffirmed a “sell” rating on shares of B&G Foods in a research report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. Barclays upped their target price on B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Evercore set a $5.00 price target on B&G Foods in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $4.70.
Check Out Our Latest Stock Report on B&G Foods
Institutional Trading of B&G Foods
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ensign Peak Advisors Inc grew its holdings in shares of B&G Foods by 130.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 106,400 shares of the company’s stock worth $450,000 after acquiring an additional 60,300 shares during the period. Bank of Montreal Can lifted its stake in shares of B&G Foods by 457.8% in the 2nd quarter. Bank of Montreal Can now owns 80,283 shares of the company’s stock valued at $340,000 after purchasing an additional 65,889 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of B&G Foods by 414.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 216,332 shares of the company’s stock valued at $958,000 after purchasing an additional 174,312 shares during the period. Savant Capital LLC bought a new stake in shares of B&G Foods during the second quarter valued at approximately $115,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of B&G Foods by 37.0% during the second quarter. SBI Securities Co. Ltd. now owns 16,540 shares of the company’s stock valued at $70,000 after purchasing an additional 4,464 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.
About B&G Foods
B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.
The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.