B&G Foods CFO Unloads $1,866,150 in Stock (BGS)
B&G Foods (NYSE:BGS) CFO Robert C. Cantwell sold 55,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $33.93, for a total value of $1,866,150.00. Following the sale, the chief financial officer now directly owns 122,830 shares of the company’s stock, valued at approximately $4,167,622. The transaction was disclosed in a document filed with the SEC, which is available at this link.
B&G Foods (NYSE:BGS) traded up 0.27% during mid-day trading on Thursday, hitting $33.67. The stock had a trading volume of 198,664 shares. B&G Foods has a one year low of $27.35 and a one year high of $37.66. The stock’s 50-day moving average is $33.00 and its 200-day moving average is $32.26. The company has a market cap of $1.806 billion and a P/E ratio of 35.65.
B&G Foods (NYSE:BGS) last announced its earnings results on Wednesday, April 16th. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.39 by $0.05. The company had revenue of $198.10 million for the quarter, compared to the consensus estimate of $204.92 million. During the same quarter last year, the company posted $0.37 earnings per share. B&G Foods’s revenue was up 15.7% compared to the same quarter last year. Analysts expect that B&G Foods will post $1.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 30th. Shareholders of record on Monday, June 30th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, June 26th.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of B&G Foods from an “underperform” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $34.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of B&G Foods in a research note on Thursday, April 10th. They now have a $34.00 price target on the stock. Finally, analysts at RBC Capital upgraded shares of B&G Foods from a “sector perform” rating to an “outperform” rating in a research note on Monday, April 7th. They now have a $36.00 price target on the stock, up previously from $31.00. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $33.80.
B&G Foods, Inc (NYSE:BGS) manufactures, sells and distributes a range of branded shelf-stable food and household products across the United States, Canada and Puerto Rico.
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