Point72 Asset Management L.P. Buys New Position in B&G Foods, Inc. (NYSE:BGS)

Point72 Asset Management L.P. bought a new position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 108,354 shares of the company's stock, valued at approximately $962,000. Point72 Asset Management L.P. owned 0.14% of B&G Foods as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in B&G Foods during the third quarter worth approximately $102,000. Verition Fund Management LLC raised its position in 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 lifted 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 in the last quarter. FMR LLC boosted its position in shares of B&G Foods by 67.5% in the third quarter. FMR LLC now owns 161,345 shares of the company's stock worth $1,433,000 after buying an additional 65,011 shares during the period. Finally, Quantbot Technologies LP grew its stake in shares of B&G Foods by 140.3% in the third quarter. Quantbot Technologies LP now owns 75,441 shares of the company's stock valued at $670,000 after buying an additional 44,041 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Cowen decreased their price target on B&G Foods from $8.00 to $7.50 and set a "sell" rating for the company in a report on Wednesday, November 6th. Evercore ISI lowered 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. Barclays dropped 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 research note on Thursday, November 7th. Finally, StockNews.com upgraded B&G Foods from a "sell" rating to a "hold" rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.30.

B&G Foods Stock Up 0.4 %

BGS traded up $0.03 during trading on Wednesday, hitting $7.68. The company had a trading volume of 841,499 shares, compared to its average volume of 1,124,200. B&G Foods, Inc. has a 1-year low of $6.12 and a 1-year high of $11.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The company has a market cap of $607.98 million, a PE ratio of -22.29 and a beta of 0.54. The business has a 50-day moving average of $7.53 and a 200-day moving average of $8.21.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The company had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. As a group, analysts forecast that B&G Foods, Inc. will post 0.71 earnings per share for the current year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 9.90%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods's dividend payout ratio is presently -223.53%.

Insider Buying and Selling at B&G Foods

In other news, Director Stephen Sherrill bought 70,000 shares of B&G Foods stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $6.63 per share, with a total value of $464,100.00. Following the purchase, the director now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Eric H. Hart purchased 5,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the purchase, the executive vice president now directly owns 88,899 shares of the company's stock, valued at $555,618.75. This trade represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 90,111 shares of company stock worth $593,054 over the last 90 days. Insiders own 3.20% of the company's stock.

B&G Foods Company Profile

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.