B&G Foods, Inc. (NYSE:BGS) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in B&G Foods, Inc. (NYSE:BGS) by 13.5% in the second quarter, HoldingsChannel reports. The fund owned 30,050 shares of the company’s stock after acquiring an additional 3,583 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in B&G Foods were worth $243,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BGS. Innealta Capital LLC purchased a new stake in shares of B&G Foods during the second quarter worth about $33,000. nVerses Capital LLC purchased a new stake in shares of B&G Foods during the second quarter worth about $33,000. Russell Investments Group Ltd. increased its stake in shares of B&G Foods by 1,556.9% during the first 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 purchased a new stake in shares of B&G Foods during the first quarter worth about $60,000. Finally, Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 1,555 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction that occurred on 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 directly owns 66,095 shares of the company’s stock, valued at approximately $550,571.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.20% of the company’s stock.

B&G Foods Stock Performance

NYSE:BGS opened at $8.69 on Friday. 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 firm has a market capitalization of $686.56 million, a price-to-earnings ratio of -6.03 and a beta of 0.60. The company’s 50-day moving average is $8.58 and its two-hundred day moving average is $9.05. B&G Foods, Inc. has a 1-year low of $7.62 and a 1-year high of $11.97.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The firm had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. During the same period in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts forecast that B&G Foods, Inc. will post 0.74 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date is Monday, September 30th. B&G Foods’s dividend payout ratio is presently -52.78%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays dropped their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. 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. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Piper Sandler dropped their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Evercore ISI raised shares of B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.67.

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.