Empowered Funds LLC Acquires 16,080 Shares of B&G Foods, Inc. (NYSE:BGS)

Empowered Funds LLC increased its holdings in B&G Foods, Inc. (NYSE:BGS) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 315,620 shares of the company’s stock after buying an additional 16,080 shares during the period. Empowered Funds LLC owned 0.40% of B&G Foods worth $2,803,000 as of its most recent SEC filing.

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

B&G Foods Price Performance

Shares of NYSE:BGS opened at $6.37 on Wednesday. B&G Foods, Inc. has a one year low of $6.14 and a one 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 firm has a market capitalization of $503.85 million, a price-to-earnings ratio of -18.72 and a beta of 0.61. The company’s fifty day moving average price is $8.21 and its 200-day moving average price is $8.50.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.94%. B&G Foods’s payout ratio is -223.52%.

Insiders Place Their Bets

In related news, EVP Scott E. Lerner acquired 7,611 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the acquisition, the executive vice president now owns 196,755 shares in the company, valued at approximately $1,292,680.35. This represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the sale, the executive vice president now owns 66,095 shares of the company’s stock, valued at $550,571.35. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 90,111 shares of company stock valued at $593,054 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BGS. Evercore ISI lowered their price target on shares of 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. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays reduced their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Finally, TD Cowen dropped their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, B&G Foods currently has an average rating of “Hold” and a consensus target price of $8.30.

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.