B&G Foods, Inc. (NYSE:BGS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in shares of B&G Foods, Inc. (NYSE:BGS) by 19.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,402,302 shares of the company’s stock after selling 345,850 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in B&G Foods were worth $12,452,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of B&G Foods by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after buying an additional 485,714 shares during the period. American Century Companies Inc. boosted its position in shares of B&G Foods by 71.3% during the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after buying an additional 682,688 shares during the period. Bank of New York Mellon Corp grew its holdings in B&G Foods by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock worth $9,696,000 after buying an additional 5,842 shares in the last quarter. Dana Investment Advisors Inc. increased its position in B&G Foods by 23.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after acquiring an additional 134,937 shares during the period. Finally, Gilman Hill Asset Management LLC raised its stake in B&G Foods by 5.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company’s stock valued at $5,652,000 after acquiring an additional 34,768 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Eric H. Hart purchased 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at $555,618.75. This trade represents a 5.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott E. Lerner purchased 7,611 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the purchase, the executive vice president now directly owns 196,755 shares in the company, valued at $1,292,680.35. This represents a 4.02 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is owned by insiders.

B&G Foods Trading Up 3.9 %

Shares of B&G Foods stock opened at $6.88 on Monday. The business has a fifty day simple moving average of $7.58 and a 200-day simple moving average of $8.24. B&G Foods, Inc. has a fifty-two week low of $6.12 and a fifty-two week high of $11.97. The firm has a market cap of $544.62 million, a price-to-earnings ratio of -20.23 and a beta of 0.54. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. During the same period in the previous year, the company posted $0.27 earnings per share. B&G Foods’s revenue was down 8.3% compared to the same quarter last year. On average, equities analysts forecast that B&G Foods, Inc. will post 0.71 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm 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. This represents a $0.76 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is -223.52%.

Analyst Upgrades and Downgrades

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

B&G Foods Company 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.