David Wenner Sells 19,500 Shares of B&G Foods (NYSE:BGS) Stock

B&G Foods, Inc. (NYSE:BGS) Director David Wenner sold 19,500 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $101,205.00. Following the completion of the transaction, the director owned 787,566 shares in the company, valued at approximately $4,087,467.54. This trade represents a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

B&G Foods Trading Down 0.5%

Shares of NYSE BGS traded down $0.03 during midday trading on Tuesday, reaching $5.05. 1,773,026 shares of the stock were exchanged, compared to its average volume of 2,231,898. The company has a market capitalization of $403.45 million, a P/E ratio of -9.34 and a beta of 0.46. B&G Foods, Inc. has a 52-week low of $3.67 and a 52-week high of $7.49. The company has a current ratio of 3.32, a quick ratio of 1.43 and a debt-to-equity ratio of 4.30. The stock has a 50 day moving average price of $4.84 and a 200-day moving average price of $4.61.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. The business had revenue of $539.56 million during the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 earnings per share. Equities research analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 15.1%. B&G Foods’s dividend payout ratio (DPR) is -140.74%.

Institutional Trading of B&G Foods

A number of institutional investors have recently modified their holdings of BGS. Royal Bank of Canada raised its holdings in B&G Foods by 14.4% in the first quarter. Royal Bank of Canada now owns 256,421 shares of the company’s stock valued at $1,761,000 after buying an additional 32,253 shares during the period. AQR Capital Management LLC lifted its position in B&G Foods by 5.3% during the first quarter. AQR Capital Management LLC now owns 163,781 shares of the company’s stock valued at $1,125,000 after buying an additional 8,272 shares in the last quarter. Millennium Management LLC grew its stake in B&G Foods by 15,131.8% during the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock worth $12,970,000 after buying an additional 1,875,589 shares during the period. Goldman Sachs Group Inc. grew its stake in B&G Foods by 28.2% during the first quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company’s stock worth $4,851,000 after buying an additional 155,503 shares during the period. Finally, Empowered Funds LLC increased its position in shares of B&G Foods by 6.6% in the first quarter. Empowered Funds LLC now owns 353,878 shares of the company’s stock worth $2,431,000 after acquiring an additional 22,064 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BGS. TD Cowen reiterated a “sell” rating on shares of B&G Foods in a research note on Wednesday, March 4th. Evercore set a $5.00 price target on B&G Foods in a report on Wednesday, March 4th. Barclays upped their price objective on shares of B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.70.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.