B&G Foods, Inc. (NYSE:BGS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in B&G Foods, Inc. (NYSE:BGS) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 373,072 shares of the company’s stock after selling 16,740 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of B&G Foods worth $3,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BGS. nVerses Capital LLC lifted its holdings in shares of B&G Foods by 34.1% in the third quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock valued at $49,000 after purchasing an additional 1,400 shares in the last quarter. Versant Capital Management Inc raised its position in shares of B&G Foods by 36.9% during the 2nd 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 during the last quarter. Rhumbline Advisers lifted its stake in B&G Foods by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock valued at $2,010,000 after buying an additional 1,625 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in B&G Foods by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock valued at $450,000 after buying an additional 1,636 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in shares of B&G Foods by 12.5% during the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after buying an additional 2,008 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Stock Up 1.8 %

Shares of B&G Foods stock opened at $6.39 on Friday. B&G Foods, Inc. has a twelve month low of $6.12 and a twelve month high of $11.97. The company has a fifty day moving average price of $8.17 and a 200 day moving average price of $8.49. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The stock has a market cap of $505.44 million, a price-to-earnings ratio of -18.76 and a beta of 0.61.

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 the consensus estimate of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s revenue was down 8.3% on a year-over-year basis. Equities research analysts forecast that B&G Foods, Inc. will post 0.73 earnings per share 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. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.90%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is currently -223.52%.

Insider Buying and Selling

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 shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the sale, the executive vice president now directly owns 66,095 shares in the company, valued at approximately $550,571.35. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Eric H. Hart bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares in the company, valued at approximately $555,618.75. The trade was a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 90,111 shares of company stock worth $593,054. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BGS shares. Evercore ISI decreased their target price 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 report on Thursday, September 26th. TD Cowen dropped their target price on 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. Barclays decreased their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.30.

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.