B&G Foods, Inc. (NYSE:BGS) Director Deann L. Brunts Buys 2,483 Shares

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B&G Foods, Inc. (NYSE:BGS) Director Deann L. Brunts bought 2,483 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $18.98 per share, for a total transaction of $47,127.34. Following the completion of the purchase, the director now directly owns 22,272 shares in the company, valued at $422,722.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of BGS opened at $18.08 on Thursday. The company has a 50 day moving average price of $19.52 and a 200-day moving average price of $22.68. B&G Foods, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $33.00. The stock has a market capitalization of $1.26 billion, a PE ratio of 9.77 and a beta of 0.46. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.97 and a current ratio of 3.02.

B&G Foods (NYSE:BGS) last posted its earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. B&G Foods had a net margin of 10.75% and a return on equity of 13.04%. The company had revenue of $371.20 million during the quarter, compared to analysts’ expectations of $370.24 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. B&G Foods’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts forecast that B&G Foods, Inc. will post 1.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be given a dividend of $0.475 per share. The ex-dividend date is Friday, September 27th. This represents a $1.90 dividend on an annualized basis and a yield of 10.51%. B&G Foods’s payout ratio is 102.70%.

Several equities research analysts have recently weighed in on the stock. Barclays reaffirmed a “hold” rating and issued a $22.00 price target on shares of B&G Foods in a research report on Monday, July 15th. ValuEngine cut shares of B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd. Evercore ISI assumed coverage on shares of B&G Foods in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $25.00 price target for the company. Finally, Zacks Investment Research raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $26.19.

A number of large investors have recently bought and sold shares of the stock. NEXT Financial Group Inc purchased a new position in shares of B&G Foods in the second quarter worth $37,000. Versant Capital Management Inc increased its stake in shares of B&G Foods by 124.9% in the first quarter. Versant Capital Management Inc now owns 2,092 shares of the company’s stock worth $51,000 after acquiring an additional 1,162 shares during the period. TRUE Private Wealth Advisors acquired a new stake in shares of B&G Foods in the second quarter worth $44,000. Icon Wealth Partners LLC acquired a new stake in shares of B&G Foods in the first quarter worth $57,000. Finally, Clear Perspective Advisors LLC acquired a new stake in shares of B&G Foods in the second quarter worth $81,000. 95.61% of the stock is owned by institutional investors.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.

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