Advisors Asset Management Inc. Has $113,000 Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Advisors Asset Management Inc. decreased its position in B&G Foods, Inc. (NYSE:BGS) by 45.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,724 shares of the company’s stock after selling 10,401 shares during the quarter. Advisors Asset Management Inc.’s holdings in B&G Foods were worth $113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new position in B&G Foods in the 2nd quarter worth $33,000. nVerses Capital LLC bought a new position in shares of B&G Foods in the second quarter worth about $33,000. Versant Capital Management Inc lifted its position in shares of B&G Foods by 36.9% during the 2nd 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 last quarter. Russell Investments Group Ltd. boosted its stake in B&G Foods by 1,556.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after purchasing an additional 4,624 shares during the period. Finally, LRI Investments LLC acquired a new stake in B&G Foods in the 1st quarter valued at approximately $60,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on BGS shares. Evercore ISI cut 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. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. Barclays dropped their price objective on shares of 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. Finally, TD Cowen reduced their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.30.

Insider Transactions at B&G Foods

In related news, EVP Eric H. Hart purchased 5,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at approximately $555,618.75. The trade was a 5.96 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $6.63 per share, with a total value of $464,100.00. Following the completion of the acquisition, the director now owns 353,084 shares of the company’s stock, valued at approximately $2,340,946.92. This trade represents a 24.73 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 90,111 shares of company stock valued at $593,054. Corporate insiders own 3.20% of the company’s stock.

B&G Foods Price Performance

BGS opened at $6.68 on Friday. The company has a market capitalization of $528.82 million, a P/E ratio of -19.65 and a beta of 0.61. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The firm’s fifty day moving average price is $7.82 and its two-hundred day moving average price is $8.34. B&G Foods, Inc. has a fifty-two week low of $6.12 and a fifty-two week high of $11.97.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share 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 analyst estimates of $473.82 million. During the same quarter last year, the firm posted $0.27 earnings per share. B&G Foods’s revenue was down 8.3% on a year-over-year basis. On average, analysts anticipate that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The business 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 11.38%. B&G Foods’s payout ratio is presently -223.53%.

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.