Nisa Investment Advisors LLC Reduces Stock Position in B&G Foods, Inc. (NYSE:BGS)

Nisa Investment Advisors LLC cut its stake in B&G Foods, Inc. (NYSE:BGS) by 64.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,950 shares of the company’s stock after selling 67,509 shares during the quarter. Nisa Investment Advisors LLC’s holdings in B&G Foods were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC grew its position in B&G Foods by 34.1% in 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of B&G Foods in the third quarter worth $102,000. Regent Peak Wealth Advisors LLC purchased a new stake in B&G Foods during the fourth quarter valued at $81,000. PFG Investments LLC lifted its holdings in 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 during the period. Finally, Versor Investments LP lifted its holdings in B&G Foods by 13.4% in the third quarter. Versor Investments LP now owns 24,300 shares of the company’s stock valued at $216,000 after acquiring an additional 2,862 shares during the period. 66.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at B&G Foods

In other news, Director Stephen Sherrill bought 70,000 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the transaction, the director now owns 353,084 shares of the company’s stock, valued at $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott E. Lerner purchased 7,611 shares of B&G Foods stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $6.57 per share, for a total transaction of $50,004.27. Following the transaction, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at $1,292,680.35. The trade was a 4.02 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 90,111 shares of company stock valued at $593,054 in the last 90 days. Insiders own 3.20% of the company’s stock.

B&G Foods Stock Down 0.4 %

Shares of BGS opened at $6.55 on Thursday. The business’s 50 day moving average is $6.90 and its 200 day moving average is $7.80. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a 12-month low of $6.12 and a 12-month high of $11.97. The company has a market capitalization of $518.10 million, a PE ratio of -19.25 and a beta of 0.51.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. During the same period last year, the business earned $0.27 earnings per share. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. Research analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

BGS has been the subject of several research reports. Evercore ISI reduced 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 research report on Wednesday, November 6th. TD Cowen cut their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Finally, Barclays lowered their price target on shares of 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. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.