State Street Corp Decreases Stock Position in B&G Foods, Inc. (NYSE:BGS)

State Street Corp decreased its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,972,528 shares of the company’s stock after selling 3,201 shares during the period. State Street Corp’s holdings in B&G Foods were worth $26,965,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Verition Fund Management LLC increased its stake in shares of B&G Foods by 3,480.9% during the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock worth $3,369,000 after buying an additional 368,799 shares during the period. Dana Investment Advisors Inc. grew its holdings in B&G Foods by 23.5% during the 2nd 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. Mercer Global Advisors Inc. ADV purchased a new stake in shares of B&G Foods in the 2nd quarter valued at approximately $958,000. Point72 Asset Management L.P. acquired a new stake in shares of B&G Foods in the 3rd quarter valued at $962,000. Finally, Savoir Faire Capital Management L.P. lifted its position in shares of B&G Foods by 37.5% during the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after purchasing an additional 144,146 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays dropped 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. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. TD Cowen cut their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. Finally, 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. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.30.

B&G Foods Stock Up 0.3 %

BGS opened at $7.27 on Monday. B&G Foods, Inc. has a one year low of $6.12 and a one year high of $11.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The stock has a market capitalization of $575.52 million, a P/E ratio of -21.38 and a beta of 0.54. The business’s 50-day simple moving average is $7.43 and its 200-day simple moving average is $8.10.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data 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). The firm had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. B&G Foods’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. Analysts anticipate that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently disclosed 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. This represents a $0.76 annualized dividend and a yield of 10.45%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is currently -223.53%.

Insider Buying and Selling at B&G Foods

In related news, EVP Scott E. Lerner acquired 7,611 shares of B&G Foods stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $6.57 per share, with a total value of $50,004.27. Following the purchase, the executive vice president now directly owns 196,755 shares in the company, valued at approximately $1,292,680.35. The trade was a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen Sherrill purchased 70,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $6.63 per share, with a total value of $464,100.00. Following the purchase, the director now directly owns 353,084 shares of the company’s stock, valued at approximately $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is owned by company insiders.

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.