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

B&G Foods, Inc. (NYSE:BGS) EVP Martin Schoch sold 11,321 shares of B&G Foods stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $5.40, for a total transaction of $61,133.40. Following the completion of the transaction, the executive vice president owned 34,347 shares in the company, 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 SEC, which can be accessed through this link.

B&G Foods Price Performance

NYSE BGS opened at $5.22 on Friday. B&G Foods, Inc. has a 1 year low of $3.67 and a 1 year high of $7.49. The business’s fifty day moving average is $4.82 and its two-hundred day moving average is $4.60. The stock has a market capitalization of $417.44 million, a P/E ratio of -9.67 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 data on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $539.56 million during the quarter, compared to analyst estimates 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 last year, the company posted $0.31 EPS. On average, research analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

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 $0.19 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 14.6%. B&G Foods’s dividend payout ratio (DPR) is -140.74%.

Hedge Funds Weigh In On B&G Foods

Several institutional investors and hedge funds have recently modified their holdings of BGS. Northwestern Mutual Wealth Management Co. raised its holdings in shares of B&G Foods by 502.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock worth $31,000 after acquiring an additional 6,207 shares in the last quarter. Triumph Capital Management acquired a new stake in B&G Foods during the third quarter valued at $34,000. Allworth Financial LP grew its stake in B&G Foods by 49.5% in the third quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock valued at $35,000 after purchasing an additional 2,612 shares in the last quarter. Federated Hermes Inc. purchased a new position in B&G Foods in the second quarter valued at about $35,000. Finally, Capstone Financial Advisors Inc. acquired a new position in B&G Foods in the 2nd quarter worth about $42,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BGS. Barclays boosted 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. TD Cowen reiterated a “sell” rating on shares of B&G Foods in a report on Wednesday, March 4th. Evercore set a $5.00 target price on shares of B&G Foods in a research report on Wednesday, March 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus 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.