Insider Selling: B&G Foods (NYSE:BGS) EVP Sells $103,800.00 in Stock

B&G Foods, Inc. (NYSE:BGS) EVP Andrew Vogel sold 20,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $103,800.00. Following the sale, the executive vice president directly owned 50,679 shares of the company’s stock, valued at $263,024.01. This represents a 28.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

B&G Foods Trading Down 0.8%

BGS stock opened at $5.22 on Monday. The company has a quick ratio of 1.43, a current ratio of 3.32 and a debt-to-equity ratio of 4.30. The company has a market cap of $417.44 million, a price-to-earnings ratio of -9.67 and a beta of 0.46. The business has a fifty day simple moving average of $4.82 and a 200-day simple moving average of $4.60. B&G Foods, Inc. has a 52 week low of $3.67 and a 52 week high of $7.49.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The firm had revenue of $539.56 million for the quarter, compared to analysts’ expectations of $537.50 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities research analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 14.6%. The ex-dividend date of this dividend is Tuesday, March 31st. B&G Foods’s payout ratio is currently -140.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BGS. Ensign Peak Advisors Inc increased its stake in 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 buying an additional 60,300 shares during the period. Bank of Montreal Can boosted its position in 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 buying an additional 65,889 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in 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 buying an additional 174,312 shares during the last quarter. Savant Capital LLC acquired a new stake in shares of B&G Foods during the second quarter valued at about $115,000. Finally, SBI Securities Co. Ltd. grew its stake 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 acquiring an additional 4,464 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen reissued a “sell” rating on shares of B&G Foods in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th. Evercore set a $5.00 price objective on shares of B&G Foods in a research report on Wednesday, March 4th. Finally, Barclays raised their target price on shares of B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, B&G Foods currently has an average rating of “Reduce” and a consensus price target of $4.70.

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.