B&G Foods EVP Unloads $952,840 in Stock (BGS)
B&G Foods (NYSE:BGS) EVP Scott E. Lerner sold 28,000 shares of B&G Foods stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $34.03, for a total transaction of $952,840.00. Following the completion of the sale, the executive vice president now directly owns 50,989 shares of the company’s stock, valued at approximately $1,735,156. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
B&G Foods (NYSE:BGS) traded up 0.27% during mid-day trading on Thursday, hitting $33.67. 198,664 shares of the company’s stock traded hands. B&G Foods has a 52 week low of $27.35 and a 52 week 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 issued its quarterly earnings data 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. Stockholders 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.
A number of analysts have recently weighed in on BGS shares. 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.