Victory Capital Management Inc. Sells 3,730 Shares of B&G Foods, Inc. (NYSE:BGS)

Victory Capital Management Inc. lessened its position in shares of B&G Foods, Inc. (NYSE:BGS) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,655 shares of the company’s stock after selling 3,730 shares during the period. Victory Capital Management Inc.’s holdings in B&G Foods were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dana Investment Advisors Inc. lifted its holdings in shares of B&G Foods by 23.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after acquiring an additional 134,937 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of B&G Foods during the 2nd quarter worth approximately $958,000. California State Teachers Retirement System lifted its holdings in shares of B&G Foods by 3.2% during the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock worth $898,000 after acquiring an additional 2,466 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of B&G Foods by 7.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock worth $628,000 after acquiring an additional 3,979 shares during the period. Finally, Savoir Faire Capital Management L.P. lifted its holdings in shares of B&G Foods by 37.5% during the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after acquiring an additional 144,146 shares during the period. Institutional investors own 66.15% of the company’s stock.

Insider Buying and Selling at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the sale, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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, with a total value of $50,004.27. Following the completion of the transaction, the executive vice president now owns 196,755 shares of the company’s stock, valued at $1,292,680.35. This trade represents a 4.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is currently owned by company insiders.

B&G Foods Stock Performance

Shares of NYSE BGS opened at $6.68 on Friday. 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 52-week low of $6.12 and a 52-week high of $11.97. The firm has a 50 day moving average price of $7.82 and a two-hundred day moving average price of $8.34. The stock has a market cap of $528.82 million, a P/E ratio of -19.65 and a beta of 0.61.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. During the same quarter last year, the company posted $0.27 earnings per share. The company’s revenue was down 8.3% compared to the same quarter last year. As a group, equities analysts forecast that B&G Foods, Inc. will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 11.38%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s dividend payout ratio (DPR) is currently -223.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BGS shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Barclays lowered their price objective 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. TD Cowen lowered 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 report on Wednesday, November 6th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Evercore ISI lowered their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.30.

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.