US Bancorp DE Lowers Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

US Bancorp DE lessened its position in B&G Foods, Inc. (NYSE:BGS) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,048 shares of the company’s stock after selling 3,154 shares during the quarter. US Bancorp DE’s holdings in B&G Foods were worth $746,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in B&G Foods in the 2nd quarter valued at about $33,000. nVerses Capital LLC purchased a new stake in B&G Foods during the 2nd quarter worth approximately $33,000. Versant Capital Management Inc lifted 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 worth $47,000 after buying an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. boosted its position in 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 valued at $56,000 after buying an additional 4,624 shares during the period. Finally, LRI Investments LLC purchased a new position in B&G Foods in the 1st quarter valued at approximately $60,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

Insider Activity at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares of the company’s stock, valued at $550,571.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction 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 transaction, the executive vice president now directly owns 66,095 shares in the company, valued at approximately $550,571.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Sherrill bought 70,000 shares of B&G Foods stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $6.63 per share, with a total value of $464,100.00. Following the completion of the acquisition, the director now directly owns 353,084 shares of the company’s stock, valued at approximately $2,340,946.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BGS shares. 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 note on Wednesday, August 7th. 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 research note on Thursday. Evercore ISI cut their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday. TD Cowen decreased their price target 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. Finally, StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.30.

B&G Foods Stock Performance

Shares of BGS opened at $6.49 on Friday. The company has a quick ratio of 0.48, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a 52-week low of $6.46 and a 52-week high of $11.97. The stock has a 50 day moving average price of $8.51 and a 200 day moving average price of $8.75. The company has a market capitalization of $513.75 million, a price-to-earnings ratio of -19.09 and a beta of 0.61.

B&G Foods (NYSE:BGS) last posted 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 company had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. During the same period last year, the business earned $0.27 earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Research analysts predict that B&G Foods, Inc. will post 0.73 EPS 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. 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 11.71%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s payout ratio is currently -223.52%.

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.