nVerses Capital LLC Raises Holdings in B&G Foods, Inc. (NYSE:BGS)

nVerses Capital LLC raised its position in B&G Foods, Inc. (NYSE:BGS) by 34.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,500 shares of the company’s stock after purchasing an additional 1,400 shares during the period. nVerses Capital LLC’s holdings in B&G Foods were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BGS. Texas Permanent School Fund Corp increased its stake in shares of B&G Foods by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 68,433 shares of the company’s stock worth $783,000 after acquiring an additional 960 shares during the last quarter. Versant Capital Management Inc raised its stake in B&G Foods by 36.9% during the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after purchasing an additional 1,555 shares during the period. Rhumbline Advisers increased its holdings in shares of B&G Foods by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock worth $2,010,000 after buying an additional 1,625 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of B&G Foods by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock worth $450,000 after buying an additional 1,636 shares during the last quarter. Finally, SeaCrest Wealth Management LLC raised its position in shares of B&G Foods by 12.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 15,170 shares of the company’s stock valued at $174,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $8.21 on Wednesday. The stock has a market capitalization of $648.61 million, a price-to-earnings ratio of -5.70 and a beta of 0.60. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The business has a 50-day moving average of $8.58 and a 200 day moving average of $8.99. B&G Foods, Inc. has a 12 month low of $7.62 and a 12 month high of $11.97.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. As a group, sell-side analysts forecast that B&G Foods, Inc. will post 0.74 earnings per share for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.26%. The ex-dividend date of this dividend is Monday, September 30th. B&G Foods’s payout ratio is currently -52.78%.

Insider Activity at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BGS has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Evercore ISI raised B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Barclays dropped their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Finally, Piper Sandler decreased their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.67.

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.