Insider Selling: B&G Foods (NYSE:BGS) Director Sells $101,205.00 in Stock

B&G Foods, Inc. (NYSE:BGS) Director David Wenner sold 19,500 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $101,205.00. Following the completion of the transaction, the director directly owned 787,566 shares of the company’s stock, valued at approximately $4,087,467.54. The trade was a 2.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

B&G Foods Trading Up 1.7%

Shares of BGS stock opened at $4.96 on Friday. B&G Foods, Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $7.24. The company has a 50 day moving average price of $4.89 and a 200 day moving average price of $4.61. The stock has a market capitalization of $396.25 million, a P/E ratio of -9.18 and a beta of 0.46. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.43 and a current ratio of 3.32.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of $539.56 million for the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. Equities research analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 15.3%. B&G Foods’s dividend payout ratio (DPR) is -140.74%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BGS shares. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. Barclays increased their price target on B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. TD Cowen reissued a “sell” rating on shares of B&G Foods in a research report on Wednesday, March 4th. Finally, Evercore set a $5.00 target price on shares of B&G Foods in a research note on Wednesday, March 4th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $4.70.

Institutional Investors Weigh In On B&G Foods

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in B&G Foods by 502.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock valued at $31,000 after buying an additional 6,207 shares during the last quarter. Triumph Capital Management acquired a new stake in B&G Foods in the third quarter valued at $34,000. Allworth Financial LP lifted its holdings in B&G Foods by 49.5% during the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock worth $35,000 after buying an additional 2,612 shares during the last quarter. Federated Hermes Inc. purchased a new stake in B&G Foods during the 2nd quarter worth about $35,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of B&G Foods during the 3rd quarter worth about $45,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.