Stifel Financial Corp Increases Stock Position in B&G Foods, Inc. (NYSE:BGS)

Stifel Financial Corp boosted its holdings in B&G Foods, Inc. (NYSE:BGS) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,529 shares of the company’s stock after purchasing an additional 3,359 shares during the quarter. Stifel Financial Corp owned about 0.23% of B&G Foods worth $1,612,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in shares of B&G Foods during the third quarter worth about $962,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of B&G Foods in the 3rd quarter valued at approximately $102,000. Verition Fund Management LLC increased its holdings in shares of B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after purchasing an additional 368,799 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of B&G Foods by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,926 shares of the company’s stock worth $1,731,000 after purchasing an additional 3,879 shares during the last quarter. Finally, FMR LLC raised its stake in shares of B&G Foods by 67.5% during the third quarter. FMR LLC now owns 161,345 shares of the company’s stock worth $1,433,000 after purchasing an additional 65,011 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

NYSE:BGS opened at $7.27 on Friday. The firm’s fifty day simple moving average is $7.43 and its 200-day simple moving average is $8.12. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock has a market cap of $575.52 million, a PE ratio of -21.38 and a beta of 0.54. B&G Foods, Inc. has a fifty-two week low of $6.12 and a fifty-two week high of $11.97.

B&G Foods (NYSE:BGS) last issued 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 positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.45%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is currently -223.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BGS shares. Barclays dropped their price objective on shares of 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. TD Cowen lowered their target price 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. Evercore ISI cut their price target on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. One equities research 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 stock has a consensus rating of “Hold” and an average price target of $8.30.

Insider Buying and Selling

In other B&G Foods news, EVP Scott E. Lerner acquired 7,611 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost 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 approximately $1,292,680.35. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen Sherrill bought 70,000 shares of B&G Foods stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the purchase, the director now owns 353,084 shares in the company, valued at $2,340,946.92. This represents a 24.73 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 90,111 shares of company stock valued at $593,054. 3.20% of the stock is owned by insiders.

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.