Fmr LLC Purchases 65,011 Shares of B&G Foods, Inc. (NYSE:BGS)

FMR LLC lifted its holdings in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 67.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,345 shares of the company's stock after purchasing an additional 65,011 shares during the period. FMR LLC owned 0.20% of B&G Foods worth $1,433,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of B&G Foods during the 2nd quarter worth approximately $33,000. nVerses Capital LLC acquired a new position in shares of B&G Foods during the 2nd quarter valued at $33,000. CWM LLC boosted its stake in B&G Foods by 99.9% during the second quarter. CWM LLC now owns 14,469 shares of the company's stock worth $117,000 after acquiring an additional 7,231 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in B&G Foods in the second quarter worth $137,000. Finally, PFG Investments LLC increased its stake 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 purchasing an additional 2,008 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company's stock.

Insider Transactions at B&G Foods

In related news, Director Stephen Sherrill bought 70,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the completion of the purchase, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Eric H. Hart purchased 5,000 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $6.25 per share, with a total value of $31,250.00. Following the purchase, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. The trade was a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 90,111 shares of company stock worth $593,054 in the last 90 days. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BGS. TD Cowen cut their price objective on shares of B&G Foods from $8.00 to $7.50 and set a "sell" rating on the stock in a research report on Wednesday, November 6th. Evercore ISI cut their price target on B&G Foods from $10.00 to $9.00 and set an "in-line" rating on the stock in a report on Wednesday, November 6th. Barclays decreased their price objective on B&G Foods from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. Finally, StockNews.com upgraded B&G Foods from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.30.

B&G Foods Stock Down 2.0 %

Shares of B&G Foods stock traded down $0.16 on Monday, hitting $7.67. The company had a trading volume of 1,563,242 shares, compared to its average volume of 1,134,770. The stock has a market capitalization of $607.19 million, a price-to-earnings ratio of -23.09 and a beta of 0.54. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. B&G Foods, Inc. has a 1 year low of $6.12 and a 1 year high of $11.97. The stock has a 50 day moving average of $7.48 and a 200-day moving average of $8.17.

B&G Foods (NYSE:BGS - Get Free Report) last posted 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). The firm had revenue of $461.10 million for the quarter, compared to analysts' expectations of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods's revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. As a group, sell-side analysts forecast that B&G Foods, Inc. will post 0.73 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 9.91%. B&G Foods's dividend payout ratio is currently -223.53%.

B&G Foods 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.