B&G Foods, Inc. (NYSE:BGS) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its position in shares of B&G Foods, Inc. (NYSE:BGS) by 23.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,718 shares of the company’s stock after selling 20,588 shares during the quarter. Commonwealth Equity Services LLC owned 0.08% of B&G Foods worth $539,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of B&G Foods by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after purchasing an additional 1,190,116 shares during the period. Charles Schwab Investment Management Inc. boosted its position in B&G Foods by 11.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock valued at $18,450,000 after buying an additional 181,724 shares during the period. Empowered Funds LLC grew its stake in shares of B&G Foods by 52.4% in the first quarter. Empowered Funds LLC now owns 277,940 shares of the company’s stock worth $3,180,000 after acquiring an additional 95,580 shares in the last quarter. Cladis Investment Advisory LLC increased its position in shares of B&G Foods by 24.3% during the fourth quarter. Cladis Investment Advisory LLC now owns 46,000 shares of the company’s stock worth $483,000 after acquiring an additional 9,000 shares during the period. Finally, Brevan Howard Capital Management LP raised its stake in shares of B&G Foods by 23.0% in the fourth quarter. Brevan Howard Capital Management LP now owns 108,116 shares of the company’s stock valued at $1,135,000 after acquiring an additional 20,220 shares in the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BGS has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a research note on Wednesday, August 7th. Piper Sandler lowered their price objective on B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Barclays lowered their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Finally, Evercore ISI raised shares of B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.67.

B&G Foods Price Performance

Shares of NYSE BGS opened at $9.18 on Friday. The stock’s 50-day simple moving average is $8.51 and its 200-day simple moving average is $9.41. The firm has a market capitalization of $725.69 million, a PE ratio of -6.38 and a beta of 0.60. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $11.97. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.48 and a current ratio of 1.63.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $444.60 million during the quarter, compared to the consensus estimate of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 8.28%. The ex-dividend date of this dividend is Monday, September 30th. B&G Foods’s payout ratio is -52.78%.

Insider Transactions at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.