GAMMA Investing LLC Increases Stake in B&G Foods, Inc. (NYSE:BGS)

GAMMA Investing LLC increased its position in shares of B&G Foods, Inc. (NYSE:BGS) by 346.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,179 shares of the company’s stock after buying an additional 19,534 shares during the period. GAMMA Investing LLC’s holdings in B&G Foods were worth $173,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BGS. Barclays PLC grew its holdings in B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after acquiring an additional 98,824 shares in the last quarter. Verition Fund Management LLC grew 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 purchasing an additional 368,799 shares in the last quarter. Dana Investment Advisors Inc. increased its holdings in B&G Foods by 23.5% in the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after buying an additional 134,937 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in B&G Foods in the second quarter valued at $958,000. Finally, Point72 Asset Management L.P. purchased a new stake in B&G Foods during the 3rd quarter worth about $962,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

Insider Transactions at B&G Foods

In other news, EVP Eric H. Hart acquired 5,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost 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 in the company, valued at approximately $555,618.75. This represents a 5.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now owns 353,084 shares in the company, valued at $2,340,946.92. The trade was a 24.73 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 90,111 shares of company stock worth $593,054. Company insiders own 3.20% of the company’s stock.

B&G Foods Trading Down 1.2 %

BGS opened at $6.78 on Thursday. 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, Inc. has a 52 week low of $6.12 and a 52 week high of $11.97. The business’s 50 day moving average is $7.09 and its two-hundred day moving average is $7.95. The firm has a market cap of $536.73 million, a price-to-earnings ratio of -19.94 and a beta of 0.51.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, November 5th. The company reported $0.13 EPS 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 firm earned $0.27 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. On average, research analysts predict that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.21%. B&G Foods’s payout ratio is -223.53%.

Wall Street Analyst Weigh In

BGS has been the topic of a number of recent analyst reports. Barclays dropped their price objective 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 shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. 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 research report on Wednesday, November 6th. Finally, Evercore ISI dropped their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.30.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.