Versor Investments LP Sells 12,314 Shares of B&G Foods, Inc. (NYSE:BGS)

Versor Investments LP decreased its stake in shares of B&G Foods, Inc. (NYSE:BGSGet Rating) by 33.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,535 shares of the company’s stock after selling 12,314 shares during the quarter. Versor Investments LP’s holdings in B&G Foods were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BGS. Raymond James Financial Services Advisors Inc. grew its holdings in B&G Foods by 2.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 66,492 shares of the company’s stock worth $1,794,000 after purchasing an additional 1,688 shares during the period. American Century Companies Inc. grew its stake in shares of B&G Foods by 16.5% in the 1st quarter. American Century Companies Inc. now owns 18,804 shares of the company’s stock valued at $507,000 after buying an additional 2,664 shares during the period. HighTower Advisors LLC increased its position in B&G Foods by 13.6% in the 1st quarter. HighTower Advisors LLC now owns 13,087 shares of the company’s stock valued at $352,000 after buying an additional 1,571 shares in the last quarter. Citigroup Inc. raised its stake in B&G Foods by 5.7% during the 1st quarter. Citigroup Inc. now owns 61,601 shares of the company’s stock worth $1,662,000 after buying an additional 3,303 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in B&G Foods by 56.5% in the first quarter. MetLife Investment Management LLC now owns 33,903 shares of the company’s stock worth $915,000 after acquiring an additional 12,233 shares in the last quarter. Institutional investors own 63.71% of the company’s stock.

B&G Foods Trading Up 3.2 %

Shares of BGS stock opened at $12.44 on Friday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.98 and a current ratio of 3.27. The company has a market capitalization of $891.57 million, a price-to-earnings ratio of -22.21 and a beta of 0.36. B&G Foods, Inc. has a 52-week low of $10.91 and a 52-week high of $34.27. The company has a 50-day simple moving average of $13.06 and a two-hundred day simple moving average of $18.16.

B&G Foods (NYSE:BGSGet Rating) last released its earnings results on Wednesday, November 9th. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $528.40 million during the quarter, compared to analyst estimates of $531.32 million. B&G Foods had a positive return on equity of 8.55% and a negative net margin of 1.92%. Research analysts anticipate that B&G Foods, Inc. will post 0.96 EPS for the current fiscal year.

B&G Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date is Thursday, December 29th. B&G Foods’s payout ratio is -135.71%.

Insider Buying and Selling

In related news, Director David L. Wenner acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was acquired at an average price of $14.01 per share, for a total transaction of $280,200.00. Following the completion of the acquisition, the director now owns 760,392 shares of the company’s stock, valued at approximately $10,653,091.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BGS has been the topic of a number of research reports. Consumer Edge lowered B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 target price on the stock. in a research report on Thursday, December 1st. Credit Suisse Group reduced their price objective on shares of B&G Foods from $14.50 to $12.50 and set an “underperform” rating for the company in a report on Thursday, November 10th. Royal Bank of Canada lowered their target price on shares of B&G Foods from $24.00 to $16.00 and set a “sector perform” rating on the stock in a report on Friday, November 11th. BMO Capital Markets cut their price target on B&G Foods from $21.00 to $14.00 and set a “market perform” rating for the company in a research note on Thursday, November 10th. Finally, StockNews.com assumed coverage on B&G Foods in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, B&G Foods has a consensus rating of “Hold” and a consensus price target of $15.70.

B&G Foods Profile

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B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

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Institutional Ownership by Quarter for B&G Foods (NYSE:BGS)

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