Janney Montgomery Scott LLC Has $2.26 Million Position in B&G Foods, Inc. (NYSE:BGS)

Janney Montgomery Scott LLC boosted its stake in B&G Foods, Inc. (NYSE:BGS) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 254,265 shares of the company’s stock after purchasing an additional 4,240 shares during the quarter. Janney Montgomery Scott LLC owned about 0.32% of B&G Foods worth $2,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BGS. Dimensional Fund Advisors LP boosted its position in shares of B&G Foods by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after purchasing an additional 485,714 shares in the last quarter. American Century Companies Inc. boosted its holdings in B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after acquiring an additional 682,688 shares in the last quarter. Bank of New York Mellon Corp grew its stake in B&G Foods by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after acquiring an additional 5,842 shares during the period. Dana Investment Advisors Inc. increased its holdings in shares of B&G Foods by 23.5% during the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after acquiring an additional 134,937 shares in the last quarter. Finally, Gilman Hill Asset Management LLC raised its position in shares of B&G Foods by 5.8% during the third quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company’s stock worth $5,652,000 after purchasing an additional 34,768 shares during the period. 66.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BGS has been the subject of several research reports. Barclays reduced 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 research report on Thursday, November 7th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI cut their price target on 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. Finally, TD Cowen decreased their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.30.

Insider Activity

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at approximately $550,571.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Jordan E. Greenberg sold 8,000 shares of the company’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 value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott E. Lerner purchased 7,611 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $6.57 per share, with a total value of $50,004.27. Following the purchase, the executive vice president now directly owns 196,755 shares in the company, valued at $1,292,680.35. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

B&G Foods Stock Down 3.6 %

BGS opened at $6.51 on Wednesday. B&G Foods, Inc. has a fifty-two week low of $6.46 and a fifty-two week high of $11.97. The firm has a market capitalization of $515.36 million, a P/E ratio of -19.15 and a beta of 0.61. The company’s 50-day moving average is $8.44 and its 200 day moving average is $8.68. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.48.

B&G Foods (NYSE:BGS) last announced its 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). The business had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. Research analysts expect that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.67%. B&G Foods’s dividend payout ratio (DPR) is presently -223.53%.

About B&G Foods

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.