B&G Foods (NYSE:BGS) EVP Martin Schoch Sells 11,321 Shares

B&G Foods, Inc. (NYSE:BGS) EVP Martin Schoch sold 11,321 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $5.40, for a total value of $61,133.40. Following the sale, the executive vice president directly owned 34,347 shares of the company’s stock, valued at approximately $185,473.80. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

B&G Foods Trading Down 2.0%

Shares of B&G Foods stock traded down $0.11 during trading hours on Thursday, hitting $5.27. The company’s stock had a trading volume of 1,798,815 shares, compared to its average volume of 2,615,457. B&G Foods, Inc. has a twelve month low of $3.67 and a twelve month high of $7.56. The firm has a fifty day moving average of $4.80 and a 200-day moving average of $4.60. The stock has a market cap of $421.04 million, a price-to-earnings ratio of -9.75 and a beta of 0.46. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.43 and a current ratio of 3.32.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The business had revenue of $539.56 million during the quarter, compared to analysts’ expectations of $537.50 million. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The company’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS. Research analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 14.4%. The ex-dividend date of this dividend is Tuesday, March 31st. B&G Foods’s dividend payout ratio (DPR) is -140.74%.

Institutional Trading of B&G Foods

A number of institutional investors and hedge funds have recently bought and sold shares of BGS. Goldman Sachs Group Inc. increased its stake in B&G Foods by 324.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,707,044 shares of the company’s stock worth $15,940,000 after purchasing an additional 2,833,090 shares during the period. Millennium Management LLC boosted its stake in shares of B&G Foods by 15,131.8% in the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after purchasing an additional 1,875,589 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of B&G Foods by 26.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,377,381 shares of the company’s stock valued at $14,523,000 after purchasing an additional 705,958 shares during the period. Bank of America Corp DE grew its holdings in shares of B&G Foods by 142.7% in the second quarter. Bank of America Corp DE now owns 1,193,473 shares of the company’s stock valued at $5,048,000 after purchasing an additional 701,660 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of B&G Foods by 566.8% in the second quarter. Marshall Wace LLP now owns 700,640 shares of the company’s stock valued at $2,964,000 after purchasing an additional 595,571 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 equities research analysts have recently issued reports on BGS shares. Barclays boosted their price target 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. 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 target price on shares of B&G Foods in a report on Wednesday, March 4th. Finally, TD Cowen reissued a “sell” rating on shares of B&G Foods in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, B&G Foods has a consensus rating of “Reduce” and an average target price of $4.70.

B&G Foods Company Profile

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.