Victory Capital Management Inc. Sells 3,730 Shares of B&G Foods, Inc. (NYSE:BGS)

Victory Capital Management Inc. decreased its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,655 shares of the company’s stock after selling 3,730 shares during the period. Victory Capital Management Inc. owned about 0.07% of B&G Foods worth $512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in B&G Foods during the second quarter worth about $33,000. nVerses Capital LLC acquired a new stake in shares of B&G Foods in the second quarter valued at approximately $33,000. Russell Investments Group Ltd. increased its holdings in shares of B&G Foods by 1,556.9% in the first 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 in the last quarter. LRI Investments LLC acquired a new stake in shares of B&G Foods in the first quarter valued at approximately $60,000. Finally, Versant Capital Management Inc boosted its stake in B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after acquiring an additional 1,555 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Performance

BGS opened at $6.68 on Friday. The stock has a market capitalization of $528.82 million, a P/E ratio of -19.65 and a beta of 0.61. B&G Foods, Inc. has a 12 month low of $6.12 and a 12 month high of $11.97. The firm’s fifty day simple moving average is $7.82 and its 200 day simple moving average is $8.34. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $473.82 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, research analysts anticipate that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.38%. B&G Foods’s dividend payout ratio is presently -223.53%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BGS shares. StockNews.com raised 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 target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a research report on Wednesday, August 7th. Barclays reduced their price target on shares of 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. Finally, Evercore ISI reduced 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 research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.30.

Insider Transactions at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. This represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric H. Hart purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the purchase, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. The trade was a 5.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 90,111 shares of company stock worth $593,054 in the last ninety days. Insiders own 3.20% of the company’s stock.

B&G Foods 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.