B&G Foods, Inc. (NYSE:BGS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in shares of B&G Foods, Inc. (NYSE:BGS) by 19.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,402,302 shares of the company’s stock after selling 345,850 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.77% of B&G Foods worth $12,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of B&G Foods during the second quarter worth about $33,000. Innealta Capital LLC acquired a new stake in shares of B&G Foods during the 2nd quarter worth about $33,000. CWM LLC raised its holdings in B&G Foods by 99.9% during the second quarter. CWM LLC now owns 14,469 shares of the company’s stock worth $117,000 after purchasing an additional 7,231 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of B&G Foods in the 2nd quarter valued at $137,000. Finally, PFG Investments LLC grew its position 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 during the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Up 3.9 %

Shares of NYSE:BGS opened at $6.88 on Monday. The stock’s fifty day simple moving average is $7.58 and its 200-day simple moving average is $8.24. B&G Foods, Inc. has a 52-week low of $6.12 and a 52-week high of $11.97. The company has a market capitalization of $544.62 million, a P/E ratio of -20.23 and a beta of 0.54. The company has a quick ratio of 0.49, a current ratio of 1.64 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 for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business 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 company earned $0.27 EPS. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.71 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders 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 11.05%. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Insider Buying and Selling at B&G Foods

In other news, EVP Eric H. Hart purchased 5,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $6.25 per share, with a total value of $31,250.00. Following the acquisition, the executive vice president now owns 88,899 shares in the company, valued at approximately $555,618.75. This trade represents a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Sherrill acquired 70,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $6.63 per share, with a total value of $464,100.00. Following the completion of the transaction, the director now owns 353,084 shares in the company, valued at $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 90,111 shares of company stock valued at $593,054. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BGS shares. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Evercore ISI dropped their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. Barclays cut their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, TD Cowen reduced their price objective 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 investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.30.

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.