Prism Advisors Inc. Buys Shares of 11,900 B&G Foods, Inc. (NYSE:BGS)

Prism Advisors Inc. bought a new position in B&G Foods, Inc. (NYSE:BGS) in the fourth quarter, Holdings Channel reports. The institutional investor bought 11,900 shares of the company’s stock, valued at approximately $82,000.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC grew its position in B&G Foods by 310.1% in the third quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after acquiring an additional 98,824 shares during the period. Verition Fund Management LLC lifted its stake in shares of B&G Foods by 3,480.9% in the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after purchasing an additional 368,799 shares during the last quarter. Dana Investment Advisors Inc. grew its holdings in shares of B&G Foods by 23.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after purchasing an additional 134,937 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of B&G Foods during the 4th quarter worth about $857,000. Finally, Point72 Asset Management L.P. purchased a new stake in B&G Foods in the 3rd quarter valued at about $962,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Trading Up 0.7 %

Shares of BGS stock opened at $6.63 on Monday. B&G Foods, Inc. has a fifty-two week low of $6.12 and a fifty-two week high of $11.97. The company has a 50 day moving average price of $6.88 and a 200 day moving average price of $7.83. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business’s revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. Sell-side analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 11.47%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s dividend payout ratio is currently -223.52%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. TD Cowen dropped their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI decreased their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, B&G Foods has a consensus rating of “Hold” and a consensus price target of $8.30.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Eric H. Hart purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $6.25 per share, with a total value of $31,250.00. Following the acquisition, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at approximately $555,618.75. This represents a 5.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen Sherrill acquired 70,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the acquisition, the director now owns 353,084 shares in the company, valued at approximately $2,340,946.92. The trade was a 24.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 90,111 shares of company stock valued at $593,054 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

About B&G Foods

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. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.