Insider Selling: B&G Foods (NYSE:BGS) EVP Sells 20,000 Shares of Stock

B&G Foods, Inc. (NYSE:BGS) EVP Andrew Vogel sold 20,000 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $5.19, for a total value of $103,800.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

B&G Foods Stock Down 0.8%

Shares of NYSE:BGS traded down $0.04 during midday trading on Friday, reaching $5.22. The company’s stock had a trading volume of 2,206,653 shares, compared to its average volume of 2,524,826. 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 firm has a 50 day moving average of $4.82 and a 200-day moving average of $4.60. The firm has a market capitalization of $417.44 million, a P/E ratio of -9.67 and a beta of 0.46. B&G Foods, Inc. has a 12-month low of $3.67 and a 12-month high of $7.49.

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

B&G Foods Announces Dividend

The firm 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 14.6%. The ex-dividend date is Tuesday, March 31st. B&G Foods’s dividend payout ratio (DPR) is currently -140.74%.

Institutional Investors Weigh In On B&G Foods

Hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors bought a new position in shares of B&G Foods during the 4th quarter valued at $146,000. Corient Private Wealth LLC grew its holdings in shares of B&G Foods by 50.0% in the fourth quarter. Corient Private Wealth LLC now owns 52,611 shares of the company’s stock worth $226,000 after acquiring an additional 17,542 shares during the period. Alpine Global Management LLC purchased a new stake in B&G Foods during the fourth quarter valued at $169,000. Invesco Ltd. increased its position in B&G Foods by 23.7% during the fourth quarter. Invesco Ltd. now owns 395,974 shares of the company’s stock valued at $1,703,000 after acquiring an additional 75,748 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in B&G Foods by 37.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,374 shares of the company’s stock valued at $191,000 after acquiring an additional 11,984 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BGS has been the subject of several recent analyst reports. Evercore set a $5.00 price target on B&G Foods in a research note 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. Barclays lifted their price objective on B&G Foods from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Finally, TD Cowen restated a “sell” rating on shares of B&G Foods in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, B&G Foods has a consensus 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.