B&G Foods, Inc. (NYSE:BGS) EVP Bruce C. Wacha purchased 325 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was bought at an average cost of $32.03 per share, for a total transaction of $10,409.75. Following the completion of the purchase, the executive vice president now directly owns 640 shares in the company, valued at $20,499.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
B&G Foods, Inc. (NYSE:BGS) traded up 1.29% during midday trading on Friday, hitting $31.40. The company had a trading volume of 1,054,281 shares. The company has a market capitalization of $2.09 billion, a P/E ratio of 20.60 and a beta of 0.11. B&G Foods, Inc. has a 52 week low of $30.25 and a 52 week high of $50.81. The stock has a 50 day moving average price of $32.11 and a 200 day moving average price of $37.56.
B&G Foods (NYSE:BGS) last posted its earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The firm had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities analysts forecast that B&G Foods, Inc. will post $2.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date is Thursday, September 28th. B&G Foods’s payout ratio is 122.37%.
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A number of equities research analysts have recently weighed in on BGS shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $52.00 price objective on shares of B&G Foods in a research report on Tuesday, May 23rd. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Thursday, June 1st. BidaskClub upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. BMO Capital Markets cut their price objective on B&G Foods from $45.00 to $39.00 and set a “market perform” rating on the stock in a research report on Friday, August 4th. Finally, Credit Suisse Group set a $36.00 price objective on B&G Foods and gave the stock a “hold” rating in a research report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. B&G Foods currently has a consensus rating of “Hold” and an average price target of $42.61.
A number of institutional investors have recently bought and sold shares of BGS. BlackRock Inc. boosted its stake in B&G Foods by 134,853.6% during the 1st quarter. BlackRock Inc. now owns 7,858,346 shares of the company’s stock valued at $316,296,000 after purchasing an additional 7,852,523 shares during the period. Principal Financial Group Inc. boosted its stake in B&G Foods by 213.1% during the 2nd quarter. Principal Financial Group Inc. now owns 4,319,621 shares of the company’s stock valued at $153,779,000 after purchasing an additional 2,940,036 shares during the period. Deprince Race & Zollo Inc. acquired a new position in B&G Foods during the 2nd quarter valued at about $26,312,000. Lord Abbett & CO. LLC acquired a new position in B&G Foods during the 2nd quarter valued at about $25,526,000. Finally, FMR LLC boosted its stake in B&G Foods by 12.9% during the 1st quarter. FMR LLC now owns 5,854,515 shares of the company’s stock valued at $235,645,000 after purchasing an additional 667,093 shares during the period. 94.09% of the stock is owned by hedge funds and other institutional investors.
About B&G Foods
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products.
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