Hussman Strategic Advisors Inc. lessened its stake in shares of B&G Foods, Inc. (NYSE:BGS – Get Rating) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,000 shares of the company's stock after selling 31,000 shares during the quarter. Hussman Strategic Advisors Inc. owned about 0.17% of B&G Foods worth $2,045,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in BGS. CoreCap Advisors LLC bought a new position in shares of B&G Foods during the 2nd quarter worth about $38,000. CNB Bank bought a new position in B&G Foods in the 2nd quarter valued at about $52,000. CWM LLC lifted its position in B&G Foods by 35.2% in the 3rd quarter. CWM LLC now owns 3,183 shares of the company's stock valued at $52,000 after acquiring an additional 829 shares in the last quarter. Wipfli Financial Advisors LLC bought a new position in B&G Foods in the 3rd quarter valued at about $55,000. Finally, Clear Street Markets LLC lifted its position in B&G Foods by 700.0% in the 2nd quarter. Clear Street Markets LLC now owns 2,400 shares of the company's stock valued at $57,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors own 63.71% of the company's stock.
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Analysts Set New Price Targets
Several equities analysts recently weighed in on BGS shares. BMO Capital Markets dropped their price target on shares of B&G Foods from $21.00 to $14.00 and set a "market perform" rating on the stock in a research report on Thursday, November 10th. Royal Bank of Canada dropped their price target on shares of B&G Foods from $24.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Friday, November 11th. StockNews.com started coverage on shares of B&G Foods in a research report on Wednesday, October 12th. They issued a "sell" rating on the stock. Consumer Edge cut shares of B&G Foods from an "equal weight" rating to an "underweight" rating and set a $9.00 price target on the stock. in a research report on Thursday, December 1st. Finally, Credit Suisse Group decreased their price objective on shares of B&G Foods from $14.50 to $12.50 and set an "underperform" rating for the company in a research note on Thursday, November 10th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, B&G Foods presently has an average rating of "Hold" and an average target price of $15.70.
Insider Transactions at B&G Foods
In related news, Director David L. Wenner purchased 20,000 shares of the firm's stock in a transaction dated Monday, November 14th. The stock was bought at an average price of $14.01 per share, for a total transaction of $280,200.00. Following the purchase, the director now directly owns 760,392 shares in the company, valued at approximately $10,653,091.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through
the SEC website. 2.70% of the stock is currently owned by company insiders.
B&G Foods Trading Up 4.3 %
NYSE:BGS opened at $14.43 on Wednesday. The firm has a 50-day moving average price of $12.75 and a two-hundred day moving average price of $17.58. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.98 and a current ratio of 3.27. B&G Foods, Inc. has a 52 week low of $10.91 and a 52 week high of $33.69. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -25.77 and a beta of 0.36.
B&G Foods (NYSE:BGS – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. B&G Foods had a negative net margin of 1.92% and a positive return on equity of 8.55%. The company had revenue of $528.40 million during the quarter, compared to analyst estimates of $531.32 million. On average, equities analysts expect that B&G Foods, Inc. will post 0.96 earnings per share for the current fiscal year.
B&G Foods Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.76 annualized dividend and a dividend yield of 5.27%. B&G Foods's payout ratio is currently -135.71%.
B&G Foods Company Profile
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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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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