Fmr LLC Boosts Stock Position in B&G Foods, Inc. (NYSE:BGS)

Fmr LLC boosted its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 67.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,345 shares of the company’s stock after purchasing an additional 65,011 shares during the quarter. Fmr LLC owned approximately 0.20% of B&G Foods worth $1,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BGS. Cetera Advisors LLC purchased a new stake in B&G Foods during the 1st quarter worth approximately $202,000. CWM LLC increased its holdings in shares of B&G Foods by 99.9% in the 2nd quarter. CWM LLC now owns 14,469 shares of the company’s stock valued at $117,000 after acquiring an additional 7,231 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of B&G Foods by 47.8% in the 2nd quarter. SG Americas Securities LLC now owns 25,462 shares of the company’s stock valued at $206,000 after acquiring an additional 8,231 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of B&G Foods by 3.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock valued at $450,000 after acquiring an additional 1,636 shares during the last quarter. Finally, Cove Private Wealth LLC bought a new stake in shares of B&G Foods in the 2nd quarter valued at approximately $929,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BGS has been the subject of a number of research analyst reports. Evercore ISI lowered their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. Barclays lowered their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.30.

B&G Foods Price Performance

Shares of BGS opened at $7.83 on Monday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods, Inc. has a 12 month low of $6.12 and a 12 month high of $11.97. The stock has a fifty day moving average price of $7.48 and a 200 day moving average price of $8.17. The company has a market cap of $619.85 million, a P/E ratio of -23.03 and a beta of 0.54.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. On average, research analysts forecast that B&G Foods, Inc. will post 0.73 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 9.71%. B&G Foods’s dividend payout ratio (DPR) is presently -223.53%.

Insiders Place Their Bets

In other news, EVP Eric H. Hart acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares in the company, valued at $555,618.75. This represents a 5.96 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott E. Lerner bought 7,611 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the transaction, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at $1,292,680.35. This trade represents a 4.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is owned by company insiders.

About B&G Foods

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, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.