B&G Foods, Inc. (NYSE:BGS) Stake Raised by Creative Planning

Creative Planning grew its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 94.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,744 shares of the company’s stock after buying an additional 18,340 shares during the period. Creative Planning’s holdings in B&G Foods were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in B&G Foods during the second quarter worth approximately $33,000. nVerses Capital LLC bought a new stake in B&G Foods during the second quarter worth approximately $33,000. Russell Investments Group Ltd. raised its holdings in B&G Foods by 1,556.9% during the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after purchasing an additional 4,624 shares in the last quarter. LRI Investments LLC bought a new stake in B&G Foods during the first quarter worth approximately $60,000. Finally, Versant Capital Management Inc raised its holdings in B&G Foods by 36.9% during the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after purchasing an additional 1,555 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BGS. 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 report on Wednesday. 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 reaffirmed a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI dropped their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Barclays dropped their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.30.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen Sherrill purchased 70,000 shares of the stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the acquisition, the director now owns 353,084 shares in the company, valued at $2,340,946.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.20% of the company’s stock.

B&G Foods Trading Down 1.6 %

NYSE BGS opened at $6.50 on Friday. B&G Foods, Inc. has a twelve month low of $6.46 and a twelve month 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. The stock has a market cap of $514.17 million, a price-to-earnings ratio of -19.10 and a beta of 0.61. The firm’s 50 day moving average price is $8.51 and its two-hundred day moving average price is $8.77.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The firm had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities analysts anticipate that B&G Foods, Inc. will post 0.74 EPS for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 11.70%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is -223.53%.

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.