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

B&G Foods, Inc. (NYSE:BGS) EVP Andrew Vogel sold 20,000 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $103,800.00. Following the sale, the executive vice president directly owned 50,679 shares in the company, valued at approximately $263,024.01. This represents a 28.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

B&G Foods Price Performance

B&G Foods stock opened at $5.22 on Friday. 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’s 50-day simple moving average is $4.82 and its 200 day simple moving average is $4.60. B&G Foods, Inc. has a 52 week low of $3.67 and a 52 week high of $7.49. The firm has a market capitalization of $417.44 million, a PE ratio of -9.67 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $539.56 million for the quarter, compared to the consensus estimate 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 business’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 earnings per share. On average, equities research analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 14.6%. The ex-dividend date of this dividend is Tuesday, March 31st. B&G Foods’s dividend payout ratio is currently -140.74%.

Institutional Trading of B&G Foods

Hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of B&G Foods by 502.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock valued at $31,000 after purchasing an additional 6,207 shares in the last quarter. Triumph Capital Management acquired a new position in B&G Foods in the third quarter worth about $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 worth $35,000 after purchasing an additional 2,612 shares in the last quarter. Federated Hermes Inc. bought a new stake in B&G Foods in the second quarter valued at about $35,000. Finally, Capstone Financial Advisors Inc. bought a new stake in B&G Foods in the second quarter valued at about $42,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

Wall Street Analyst Weigh In

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