Aigen Investment Management LP Sells 7,995 Shares of B&G Foods, Inc. (NYSE:BGS)

Aigen Investment Management LP reduced its stake in B&G Foods, Inc. (NYSE:BGS) by 36.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,756 shares of the company’s stock after selling 7,995 shares during the period. Aigen Investment Management LP’s holdings in B&G Foods were worth $122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BGS. American Century Companies Inc. boosted its position in shares of B&G Foods by 71.3% in the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after purchasing an additional 682,688 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in B&G Foods by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after acquiring an additional 485,714 shares in the last quarter. AQR Capital Management LLC lifted its holdings in B&G Foods by 154.0% during the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock worth $5,065,000 after acquiring an additional 380,054 shares in the last quarter. Savoir Faire Capital Management L.P. lifted its holdings in B&G Foods by 37.5% during the second quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after acquiring an additional 144,146 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its holdings in B&G Foods by 23.5% during the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after acquiring an additional 134,937 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $6.21 on Monday. The firm has a market cap of $491.58 million, a price-to-earnings ratio of -18.26 and a beta of 0.61. The stock’s 50-day moving average is $8.30 and its 200-day moving average is $8.57. B&G Foods, Inc. has a one year low of $6.20 and a one year high of $11.97. 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 (NYSE:BGS) last released its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue was down 8.3% on a year-over-year basis. Equities analysts predict that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 12.24%. B&G Foods’s payout ratio is presently -223.52%.

Analyst Upgrades and Downgrades

BGS has been the topic of several recent analyst reports. Barclays reduced their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. TD Cowen reduced their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Finally, Evercore ISI cut their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.30.

Insider Buying and Selling

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew D. Vogel acquired 7,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the purchase, the executive vice president now directly owns 37,064 shares of the company’s stock, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 85,111 shares of company stock worth $561,804. Corporate insiders own 3.20% of the company’s stock.

B&G Foods Profile

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.