Key Points
- Insider sale: EVP Martin Schoch sold 11,321 shares on March 12 at an average price of $5.40 for $61,133, trimming his position by 24.79% to 34,347 shares, as disclosed in an SEC filing.
- Large dividend but weak coverage: B&G Foods declared a $0.19 quarterly dividend (a 14.6% yield) payable April 30 with an ex‑dividend date of March 31, yet the payout ratio is -140.74%, indicating potential unsustainability.
- Shares traded near $5.22 with a market cap of ~$417M and a negative P/E; the company reported Q results that met EPS estimates ($0.28) but saw revenue down 2.2%, while analysts hold a consensus "Reduce" rating and a $4.70 price target.
B&G Foods, Inc. (NYSE:BGS - Get Free Report) EVP Martin Schoch sold 11,321 shares of B&G Foods stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $5.40, for a total transaction of $61,133.40. Following the completion of the transaction, the executive vice president owned 34,347 shares in the company, valued at approximately $185,473.80. This trade represents a 24.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
B&G Foods Trading Down 0.9%
Shares of BGS stock traded down $0.05 on Friday, reaching $5.22. 1,019,527 shares of the stock were exchanged, compared to its average volume of 2,224,117. The company has a quick ratio of 1.43, a current ratio of 3.32 and a debt-to-equity ratio of 4.30. The stock has a market cap of $417.04 million, a P/E ratio of -9.69 and a beta of 0.46. The firm has a 50 day moving average of $4.80 and a two-hundred day moving average of $4.60. B&G Foods, Inc. has a 1-year low of $3.67 and a 1-year high of $7.49.
B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, meeting analysts' consensus estimates of $0.28. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The firm had revenue of $539.56 million for the quarter, compared to analysts' expectations of $537.50 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.
B&G Foods Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 14.6%. The ex-dividend date of this dividend is Tuesday, March 31st. B&G Foods's payout ratio is currently -140.74%.
Hedge Funds Weigh In On B&G Foods
A number of institutional investors and hedge funds have recently bought and sold shares of BGS. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in B&G Foods by 3.9% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 63,628 shares of the company's stock worth $282,000 after buying an additional 2,379 shares during the last quarter. Allworth Financial LP increased its holdings in shares of B&G Foods by 49.5% in the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company's stock valued at $35,000 after acquiring an additional 2,612 shares during the last quarter. Savant Capital LLC raised its position in shares of B&G Foods by 10.3% during the 3rd quarter. Savant Capital LLC now owns 29,913 shares of the company's stock valued at $133,000 after acquiring an additional 2,792 shares in the last quarter. Comerica Bank lifted its stake in B&G Foods by 53.3% during the fourth quarter. Comerica Bank now owns 10,706 shares of the company's stock worth $46,000 after purchasing an additional 3,722 shares during the last quarter. Finally, Summit Securities Group LLC boosted its holdings in B&G Foods by 37.1% in the fourth quarter. Summit Securities Group LLC now owns 14,400 shares of the company's stock worth $62,000 after purchasing an additional 3,900 shares during the period. Hedge funds and other institutional investors own 66.15% of the company's stock.
Analyst Upgrades and Downgrades
BGS has been the topic of several research reports. TD Cowen restated a "sell" rating on shares of B&G Foods in a report on Wednesday, March 4th. Weiss Ratings reiterated a "sell (d)" rating on shares of B&G Foods in a research note on Monday, December 29th. Barclays raised their target price on shares of B&G Foods from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Finally, Evercore set a $5.00 target price on shares of B&G Foods in a report on Wednesday, March 4th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, B&G Foods has an average rating of "Reduce" and a consensus price target of $4.70.
Check Out Our Latest Research Report on B&G Foods
About B&G Foods
(
Get Free Report)
B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.
The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.
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