B&G Foods, Inc. (NYSE:BGS) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in B&G Foods, Inc. (NYSE:BGS) by 87.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 47,056 shares of the company’s stock after buying an additional 22,003 shares during the quarter. Intech Investment Management LLC owned 0.06% of B&G Foods worth $418,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BGS. nVerses Capital LLC raised its holdings in shares of B&G Foods by 34.1% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock valued at $49,000 after purchasing an additional 1,400 shares in the last quarter. Rhumbline Advisers boosted its holdings in B&G Foods by 0.7% in the second quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock valued at $2,010,000 after purchasing an additional 1,625 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in B&G Foods by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock valued at $450,000 after purchasing an additional 1,636 shares during the last quarter. PFG Investments LLC boosted its holdings in shares of B&G Foods by 12.5% in the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock valued at $160,000 after buying an additional 2,008 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of B&G Foods by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock valued at $898,000 after buying an additional 2,466 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Price Performance

B&G Foods stock opened at $6.87 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The firm’s 50-day simple moving average is $7.77 and its 200 day simple moving average is $8.31. B&G Foods, Inc. has a 52 week low of $6.12 and a 52 week high of $11.97. The firm has a market capitalization of $543.86 million, a PE ratio of -20.21 and a beta of 0.61.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. During the same period in the previous year, the company posted $0.27 EPS. B&G Foods’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts predict that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.06%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is -223.53%.

Insiders Place Their Bets

In related news, EVP Eric H. Hart purchased 5,000 shares of the firm’s stock in a transaction on 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 directly owns 88,899 shares in the company, valued at $555,618.75. This trade represents a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew D. Vogel purchased 7,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $6.36 per share, with a total value of $47,700.00. Following the completion of the purchase, the executive vice president now directly owns 37,064 shares of the company’s stock, valued at $235,727.04. The trade was a 25.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 90,111 shares of company stock valued at $593,054. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays cut their price target 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. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th. Evercore ISI dropped 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 note on Wednesday, November 6th. Finally, TD Cowen dropped their target price on 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, B&G Foods presently has an average rating of “Hold” and an average target price of $8.30.

About B&G Foods

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.