Insider Selling: B&G Foods (NYSE:BGS) Director Sells 18,795 Shares of Stock

by · The Cerbat Gem

B&G Foods, Inc. (NYSE:BGS – Get Free Report) Director Dennis Mullen sold 18,795 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $4.50, for a total transaction of $84,577.50. Following the completion of the transaction, the director owned 83,956 shares of the company’s stock, valued at approximately $377,802. This trade represents a 18.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

B&G Foods Stock Performance

Shares of NYSE BGS traded up $0.06 during midday trading on Monday, hitting $4.67. 1,748,683 shares of the company’s stock were exchanged, compared to its average volume of 2,468,031. B&G Foods, Inc. has a twelve month low of $3.67 and a twelve month high of $8.10. The firm has a market cap of $373.09 million, a P/E ratio of -1.65 and a beta of 0.43. The stock’s 50 day moving average price is $4.41 and its 200-day moving average price is $4.36. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89.

B&G Foods (NYSE:BGS – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $439.30 million for the quarter, compared to the consensus estimate of $435.47 million. B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%.The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 EPS. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. Equities research analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 16.3%. The ex-dividend date is Wednesday, December 31st. B&G Foods’s payout ratio is -24.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Royal Bank Of Canada cut their target price on B&G Foods from $6.00 to $5.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a research report on Monday, November 24th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, B&G Foods presently has a consensus rating of “Reduce” and a consensus target price of $4.67.

Read Our Latest Report on B&G Foods

Institutional Trading of B&G Foods

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of B&G Foods by 502.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock valued at $31,000 after buying an additional 6,207 shares in the last quarter. Triumph Capital Management acquired a new position in shares of B&G Foods in the 3rd quarter worth $34,000. Caitong International Asset Management Co. Ltd raised its position in shares of B&G Foods by 3,217.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company’s stock worth $35,000 after purchasing an additional 4,891 shares during the period. Federated Hermes Inc. purchased a new stake in shares of B&G Foods during the second quarter valued at $35,000. Finally, Signaturefd LLC boosted its position in shares of B&G Foods by 48.7% in the 2nd quarter. Signaturefd LLC now owns 10,036 shares of the company’s stock valued at $42,000 after purchasing an additional 3,288 shares during the period. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Company Profile

(Get Free Report)

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.

Featured Stories