B&G Foods, Inc. (NYSE:BGS) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 346.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 25,179 shares of the company’s stock after acquiring an additional 19,534 shares during the period. GAMMA Investing LLC’s holdings in B&G Foods were worth $173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC raised its position in shares of B&G Foods by 34.1% during the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after purchasing an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of B&G Foods during the third quarter valued at approximately $102,000. Canada Pension Plan Investment Board acquired a new position in shares of B&G Foods during the second quarter valued at approximately $137,000. PFG Investments LLC lifted its position in shares of B&G Foods by 12.5% in the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock valued at $160,000 after acquiring an additional 2,008 shares in the last quarter. Finally, Versor Investments LP boosted its stake in B&G Foods by 13.4% during the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after purchasing an additional 2,862 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other B&G Foods news, Director Stephen Sherrill acquired 70,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased 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 of the company’s stock, valued at approximately $2,340,946.92. This trade represents a 24.73 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott E. Lerner bought 7,611 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the purchase, the executive vice president now owns 196,755 shares in the company, valued at $1,292,680.35. This trade represents a 4.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 90,111 shares of company stock valued at $593,054. Company insiders own 3.20% of the company’s stock.

B&G Foods Stock Down 1.2 %

BGS stock opened at $6.78 on Thursday. The firm has a market cap of $536.73 million, a PE ratio of -19.94 and a beta of 0.51. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The firm’s 50 day moving average price is $7.09 and its 200-day moving average price is $7.95. B&G Foods, Inc. has a one year low of $6.12 and a one year high of $11.97.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, November 5th. The company reported $0.13 EPS 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 negative net margin of 1.34% and a positive return on equity of 6.97%. B&G Foods’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities research analysts anticipate that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.21%. B&G Foods’s dividend payout ratio is currently -223.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen lowered their price target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. Barclays lowered their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Evercore ISI reduced their price objective on 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. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, B&G Foods presently has an average rating of “Hold” and an average price target of $8.30.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.