Nisa Investment Advisors LLC Reduces Holdings in B&G Foods, Inc. (NYSE:BGS)

Nisa Investment Advisors LLC lowered its position in B&G Foods, Inc. (NYSE:BGS) by 64.6% during the 4th quarter, HoldingsChannel reports. The fund owned 36,950 shares of the company’s stock after selling 67,509 shares during the period. Nisa Investment Advisors LLC’s holdings in B&G Foods were worth $262,000 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. nVerses Capital LLC boosted its stake in shares of B&G Foods by 34.1% during the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after purchasing an additional 1,400 shares during the period. Regent Peak Wealth Advisors LLC purchased a new position in shares of B&G Foods during the fourth quarter valued at approximately $81,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of B&G Foods during the third quarter valued at approximately $102,000. PFG Investments LLC raised its holdings in shares of B&G Foods by 12.5% in the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after buying an additional 2,008 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of B&G Foods by 346.0% in the fourth quarter. GAMMA Investing LLC now owns 25,179 shares of the company’s stock worth $173,000 after buying an additional 19,534 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Barclays cut their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI cut their price target on shares of 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. Finally, TD Cowen decreased 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, B&G Foods has a consensus rating of “Hold” and an average price target of $8.30.

Insiders Place Their Bets

In other B&G Foods news, Director Stephen Sherrill purchased 70,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the purchase, the director now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Eric H. Hart acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the acquisition, the executive vice president now owns 88,899 shares of the company’s stock, valued at approximately $555,618.75. This represents a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 90,111 shares of company stock worth $593,054. 3.20% of the stock is owned by corporate insiders.

B&G Foods Trading Down 0.4 %

NYSE BGS opened at $6.55 on Thursday. The company’s 50-day simple moving average is $6.90 and its two-hundred day simple moving average is $7.80. B&G Foods, Inc. has a one year low of $6.12 and a one year high of $11.97. The company has a market capitalization of $518.10 million, a price-to-earnings ratio of -19.25 and a beta of 0.51. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data 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 negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same period in the previous year, the business earned $0.27 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods 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.