B&G Foods, Inc. (NYSE:BGS) Director Stephen Sherrill Purchases 70,000 Shares

B&G Foods, Inc. (NYSE:BGS - Get Free Report) Director Stephen Sherrill acquired 70,000 shares of the firm's stock in a transaction that occurred 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 acquisition, the director now owns 353,084 shares in the company, valued at $2,340,946.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

B&G Foods Price Performance

NYSE BGS traded down $0.10 during trading hours on Friday, reaching $6.50. 2,496,375 shares of the stock traded hands, compared to its average volume of 1,058,881. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The company has a market cap of $514.17 million, a price-to-earnings ratio of -19.21 and a beta of 0.61. The stock has a 50 day simple moving average of $8.55 and a two-hundred day simple moving average of $8.80. B&G Foods, Inc. has a 1 year low of $6.46 and a 1 year high of $11.97.

B&G Foods (NYSE:BGS - Get Free Report) last released its 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 business had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. B&G Foods's revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. On average, analysts predict that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently announced 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. This represents a $0.76 annualized dividend and a dividend yield of 11.70%. The ex-dividend date is Tuesday, December 31st. B&G Foods's dividend payout ratio is -223.53%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. TD Cowen reduced their price objective on shares of B&G Foods from $8.00 to $7.50 and set a "sell" rating for the company in a research note on Wednesday. Barclays decreased their price target on B&G Foods from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Thursday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th. Piper Sandler lowered their target price on shares of B&G Foods from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, July 11th. Finally, StockNews.com upgraded shares of B&G Foods from a "sell" rating to a "hold" rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.30.

Hedge Funds Weigh In On B&G Foods

Hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC bought a new position in shares of B&G Foods during the second quarter valued at approximately $33,000. nVerses Capital LLC bought a new stake in shares of B&G Foods during the 2nd quarter valued at $33,000. Versant Capital Management Inc boosted its stake in B&G Foods by 36.9% during the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company's stock worth $47,000 after acquiring an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of B&G Foods by 1,556.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company's stock worth $56,000 after buying an additional 4,624 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in B&G Foods during the 1st quarter valued at about $60,000. 66.15% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.