Key Points
- EVP Andrew Vogel sold 20,000 shares at an average price of $5.19 on March 13, totaling $103,800 and reducing his holdings by 28.3% to 50,679 shares.
- B&G Foods declared a quarterly dividend of $0.19 per share (ex-dividend March 31, payable April 30), implying a 14.6% yield while the dividend payout ratio is -140.74%.
- The stock has a market cap of $417.4M, a negative P/E of -9.67, and a consensus analyst rating of "Reduce" with a $4.70 price target; the 52‑week range is $3.67–$7.49.
B&G Foods, Inc. (NYSE:BGS - Get Free Report) EVP Andrew Vogel sold 20,000 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $103,800.00. Following the completion of the transaction, the executive vice president owned 50,679 shares of the company's stock, valued at $263,024.01. This represents a 28.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
B&G Foods Stock Down 0.8%
BGS stock opened at $5.22 on Friday. The firm's 50-day moving average is $4.82 and its two-hundred day moving average is $4.60. The company has a market capitalization of $417.44 million, a price-to-earnings ratio of -9.67 and a beta of 0.46. B&G Foods, Inc. has a 52 week low of $3.67 and a 52 week high of $7.49. The company has a current ratio of 3.32, a quick ratio of 1.43 and a debt-to-equity ratio of 4.30.
B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 EPS for the quarter, meeting analysts' consensus estimates of $0.28. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The business had revenue of $539.56 million for the quarter, compared to analyst estimates of $537.50 million. During the same quarter last year, the business earned $0.31 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.
B&G Foods Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 14.6%. B&G Foods's dividend payout ratio (DPR) is -140.74%.
Hedge Funds Weigh In On B&G Foods
Several institutional investors and hedge funds have recently added to or reduced their stakes in BGS. Royal Bank of Canada lifted its holdings in shares of B&G Foods by 14.4% in the first quarter. Royal Bank of Canada now owns 256,421 shares of the company's stock valued at $1,761,000 after purchasing an additional 32,253 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of B&G Foods by 5.3% in the first quarter. AQR Capital Management LLC now owns 163,781 shares of the company's stock worth $1,125,000 after purchasing an additional 8,272 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of B&G Foods by 15,131.8% during the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company's stock worth $12,970,000 after purchasing an additional 1,875,589 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of B&G Foods by 28.2% during the first quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company's stock worth $4,851,000 after purchasing an additional 155,503 shares during the period. Finally, Empowered Funds LLC grew its position in B&G Foods by 6.6% during the first quarter. Empowered Funds LLC now owns 353,878 shares of the company's stock valued at $2,431,000 after purchasing an additional 22,064 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BGS has been the topic of a number of research reports. Barclays boosted their target price on shares of B&G Foods from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. TD Cowen restated a "sell" rating on shares of B&G Foods in a report on Wednesday, March 4th. Evercore set a $5.00 target price on B&G Foods in a report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of B&G Foods in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $4.70.
Check Out Our Latest 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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