Fmr LLC Has $1.43 Million Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Fmr LLC lifted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 67.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,345 shares of the company’s stock after purchasing an additional 65,011 shares during the period. Fmr LLC’s holdings in B&G Foods were worth $1,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in B&G Foods during the second quarter valued at $33,000. nVerses Capital LLC acquired a new position in B&G Foods during the second quarter valued at $33,000. CWM LLC raised its position in B&G Foods by 99.9% during the second quarter. CWM LLC now owns 14,469 shares of the company’s stock valued at $117,000 after buying an additional 7,231 shares during the period. Canada Pension Plan Investment Board acquired a new position in B&G Foods in the 2nd quarter worth about $137,000. Finally, PFG Investments LLC increased its position in B&G Foods by 12.5% in the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after purchasing an additional 2,008 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Stock Performance

BGS opened at $7.83 on Monday. The company has a market cap of $619.85 million, a PE ratio of -23.03 and a beta of 0.54. The stock has a 50-day moving average of $7.48 and a 200-day moving average of $8.17. B&G Foods, Inc. has a 52-week low of $6.12 and a 52-week high of $11.97. 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 (NYSE:BGS) last released 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). The company had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business’s revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 9.71%. B&G Foods’s payout ratio is -223.53%.

Insider Activity at B&G Foods

In other news, EVP Andrew D. Vogel acquired 7,500 shares of B&G Foods stock in a transaction on Wednesday, November 13th. The stock was bought at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the transaction, the executive vice president now owns 37,064 shares of the company’s stock, valued at $235,727.04. The trade was a 25.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen Sherrill acquired 70,000 shares of B&G Foods stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now directly owns 353,084 shares in the company, valued at approximately $2,340,946.92. This trade represents a 24.73 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 90,111 shares of company stock worth $593,054 in the last 90 days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BGS has been the topic of several research reports. Barclays dropped their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Evercore ISI dropped their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen dropped their target price on 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. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, B&G Foods presently has a consensus rating of “Hold” and an average price target 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.