Bruce C. Wacha Buys 325 Shares of B&G Foods, Inc. (BGS) Stock
B&G Foods, Inc. (NYSE:BGS) EVP Bruce C. Wacha bought 325 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average cost of $32.03 per share, with a total value of $10,409.75. Following the purchase, the executive vice president now directly owns 640 shares of the company’s stock, valued at $20,499.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
B&G Foods, Inc. (BGS) traded down 1.41% during midday trading on Friday, reaching $31.55. 746,255 shares of the company’s stock traded hands. The stock has a market cap of $2.10 billion, a P/E ratio of 20.70 and a beta of 0.11. B&G Foods, Inc. has a 52-week low of $30.25 and a 52-week high of $50.81. The company’s 50-day moving average price is $33.04 and its 200-day moving average price is $38.12.
B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.06. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The company had revenue of $368.10 million during the quarter, compared to the consensus estimate of $376.45 million. During the same quarter last year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts predict that B&G Foods, Inc. will post $2.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be issued a $0.465 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.86 annualized dividend and a yield of 5.90%. B&G Foods’s dividend payout ratio (DPR) is presently 122.37%.
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A number of hedge funds and other institutional investors have recently modified their holdings of BGS. Acrospire Investment Management LLC raised its holdings in B&G Foods by 934.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock worth $102,000 after purchasing an additional 2,599 shares in the last quarter. Tyers Asset Management LLC raised its holdings in B&G Foods by 3.7% in the 1st quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock worth $108,000 after purchasing an additional 96 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in B&G Foods by 61.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock worth $109,000 after purchasing an additional 1,162 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in B&G Foods by 4.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,310 shares of the company’s stock worth $133,000 after purchasing an additional 134 shares in the last quarter. Finally, Elkfork Partners LLC raised its holdings in B&G Foods by 3.7% in the 1st quarter. Elkfork Partners LLC now owns 3,696 shares of the company’s stock worth $149,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 94.09% of the company’s stock.
BGS has been the subject of a number of analyst reports. BMO Capital Markets reissued a “hold” rating and set a $45.00 target price on shares of B&G Foods in a research note on Monday, May 15th. Berenberg Bank initiated coverage on shares of B&G Foods in a research note on Tuesday, May 16th. They set a “hold” rating and a $43.50 target price for the company. Credit Suisse Group downgraded shares of B&G Foods from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $47.00 to $42.00 in a research note on Thursday, May 18th. Royal Bank Of Canada reissued a “buy” rating and set a $52.00 target price on shares of B&G Foods in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research downgraded shares of B&G Foods from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. B&G Foods presently has an average rating of “Hold” and an average target price of $42.61.
About B&G Foods
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, 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, nut clusters and other specialty products.
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