Regent Peak Wealth Advisors LLC Acquires New Shares in B&G Foods, Inc. (NYSE:BGS)

Regent Peak Wealth Advisors LLC bought a new stake in shares of B&G Foods, Inc. (NYSE:BGS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,730 shares of the company’s stock, valued at approximately $81,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. nVerses Capital LLC raised its stake in shares of B&G Foods by 34.1% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock valued at $49,000 after acquiring an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of B&G Foods in the third quarter worth $102,000. Canada Pension Plan Investment Board bought a new stake in shares of B&G Foods during the 2nd quarter worth $137,000. PFG Investments LLC grew its stake in B&G Foods by 12.5% in the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock valued at $160,000 after buying an additional 2,008 shares during the last quarter. Finally, Versor Investments LP raised its holdings in B&G Foods by 13.4% in the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after acquiring an additional 2,862 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Evercore ISI reduced their price objective on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen dropped their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, B&G Foods presently has a consensus rating of “Hold” and an average target price of $8.30.

Insider Buying and Selling at B&G Foods

In related news, EVP Scott E. Lerner purchased 7,611 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $6.57 per share, with a total value of $50,004.27. Following the completion of the purchase, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at $1,292,680.35. This trade represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew D. Vogel acquired 7,500 shares of B&G Foods stock in a transaction on Wednesday, November 13th. The shares were purchased at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the acquisition, the executive vice president now owns 37,064 shares in the company, valued at approximately $235,727.04. This represents a 25.37 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 90,111 shares of company stock worth $593,054 over the last three months. Company insiders own 3.20% of the company’s stock.

B&G Foods Stock Performance

BGS opened at $6.49 on Tuesday. The stock has a market cap of $513.35 million, a PE ratio of -19.07 and a beta of 0.51. B&G Foods, Inc. has a 1 year low of $6.12 and a 1 year high of $11.97. The stock’s 50 day simple moving average is $6.86 and its 200-day simple moving average is $7.86. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same quarter last year, the firm posted $0.27 earnings per share. B&G Foods’s revenue was down 8.3% on a year-over-year basis. Sell-side analysts forecast that B&G Foods, Inc. will post 0.7 EPS 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. Investors of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 11.72%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s dividend payout ratio is -223.52%.

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.