B&G Foods, Inc. (NYSE:BGS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,167 shares of the company’s stock after selling 3,457 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of B&G Foods worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in shares of B&G Foods by 7.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock worth $628,000 after purchasing an additional 3,979 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of B&G Foods during the 1st quarter worth approximately $184,000. California State Teachers Retirement System raised its position in shares of B&G Foods by 3.2% during the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock worth $898,000 after purchasing an additional 2,466 shares during the last quarter. Cetera Advisors LLC acquired a new position in shares of B&G Foods during the 1st quarter worth approximately $202,000. Finally, CWM LLC raised its position in shares of B&G Foods by 99.9% during the 2nd quarter. CWM LLC now owns 14,469 shares of the company’s stock worth $117,000 after purchasing an additional 7,231 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Stock Down 1.6 %

BGS stock opened at $6.74 on Thursday. The stock has a market capitalization of $533.54 million, a P/E ratio of -19.82 and a beta of 0.54. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. B&G Foods, Inc. has a one year low of $6.12 and a one year high of $11.97. The company has a 50 day moving average price of $7.69 and a two-hundred day moving average price of $8.28.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data 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 company had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, sell-side analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

The business 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 of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.28%. B&G Foods’s dividend payout ratio is presently -223.52%.

Insider Activity

In other B&G Foods news, EVP Andrew D. Vogel purchased 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of $6.36 per share, with a total value of $47,700.00. Following the transaction, the executive vice president now owns 37,064 shares in the company, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric H. Hart purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $6.25 per share, with a total value of $31,250.00. Following the completion of the transaction, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. This trade represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 90,111 shares of company stock valued at $593,054 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BGS shares. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. TD Cowen cut their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Barclays lowered their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Evercore ISI lowered their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. One 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 has a consensus rating of “Hold” and an average target price of $8.30.

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.