David Wenner Sells 19,500 Shares of B&G Foods (NYSE:BGS) Stock

B&G Foods, Inc. (NYSE:BGS) Director David Wenner sold 19,500 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $101,205.00. Following the sale, the director directly owned 787,566 shares of the company’s stock, valued at approximately $4,087,467.54. This trade represents a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

B&G Foods Stock Down 0.5%

NYSE BGS traded down $0.03 during trading hours on Tuesday, hitting $5.05. The company had a trading volume of 1,773,026 shares, compared to its average volume of 2,231,898. The firm’s 50 day moving average is $4.84 and its 200 day moving average is $4.61. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.32 and a quick ratio of 1.43. B&G Foods, Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $7.49. The company has a market capitalization of $403.45 million, a price-to-earnings ratio of -9.34 and a beta of 0.46.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 EPS for the quarter, hitting 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 company had revenue of $539.56 million for the quarter, compared to analysts’ expectations of $537.50 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.76 annualized dividend and a yield of 15.1%. B&G Foods’s payout ratio is -140.74%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore set a $5.00 price objective on shares of B&G Foods in a research report on Wednesday, March 4th. TD Cowen reissued a “sell” rating on shares of B&G Foods in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. Finally, Barclays raised 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 report on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, B&G Foods currently has a consensus rating of “Reduce” and an average target price of $4.70.

Hedge Funds Weigh In On B&G Foods

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 2,833,090 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of B&G Foods by 26.4% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of B&G Foods by 5.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,384,298 shares of the company’s stock worth $10,086,000 after purchasing an additional 119,362 shares during the last quarter. Geode Capital Management LLC grew its stake in B&G Foods by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,921,485 shares of the company’s stock worth $8,264,000 after purchasing an additional 29,498 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in 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 buying an additional 1,875,589 shares during 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.