Geode Capital Management LLC Has $16.02 Million Holdings in B&G Foods, Inc. (NYSE:BGS)

Geode Capital Management LLC boosted its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,803,408 shares of the company’s stock after acquiring an additional 24,995 shares during the period. Geode Capital Management LLC owned approximately 2.28% of B&G Foods worth $16,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of B&G Foods by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after purchasing an additional 5,842 shares in the last quarter. nVerses Capital LLC acquired a new stake in B&G Foods during the 2nd quarter worth approximately $33,000. Essex Financial Services Inc. lifted its stake in B&G Foods by 40.0% in the second quarter. Essex Financial Services Inc. now owns 51,084 shares of the company’s stock valued at $413,000 after buying an additional 14,605 shares in the last quarter. Versor Investments LP boosted its holdings in shares of B&G Foods by 15.9% in the second quarter. Versor Investments LP now owns 21,438 shares of the company’s stock valued at $173,000 after buying an additional 2,938 shares during the period. Finally, Rhumbline Advisers increased its position in shares of B&G Foods by 0.7% during the second quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock worth $2,010,000 after acquiring an additional 1,625 shares in the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at B&G Foods

In other B&G Foods news, EVP Eric H. Hart acquired 5,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price 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 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 is accessible through this link. Also, Director Stephen Sherrill acquired 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $6.63 per share, with a total value of $464,100.00. Following the acquisition, the director now directly owns 353,084 shares of the company’s stock, valued at $2,340,946.92. The trade was a 24.73 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 90,111 shares of company stock worth $593,054 over the last three months. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Evercore ISI cut their price objective 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. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays reduced their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, TD Cowen lowered 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 report on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.30.

B&G Foods Trading Down 0.7 %

BGS opened at $7.09 on Monday. 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, Inc. has a twelve month low of $6.12 and a twelve month high of $11.97. The stock has a market capitalization of $561.27 million, a price-to-earnings ratio of -20.85 and a beta of 0.54. The company has a 50-day simple moving average of $7.28 and a 200 day simple moving average of $8.02.

B&G Foods (NYSE:BGS) last announced 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). The company had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. Analysts predict that B&G Foods, Inc. will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.72%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is presently -223.53%.

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.