B&G Foods, Inc. $BGS Shares Acquired by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC dramatically increased its stake in B&G Foods by 1,597.8% in Q4, acquiring 279,532 shares to hold 297,027 shares (about 0.37% of the company) worth roughly $1.28 million.
• B&G Foods declared a quarterly dividend of $0.19 (annualized $0.76), implying a 14.9% yield with an ex-dividend date of March 31, though the dividend payout ratio is negative (-140.74%), raising questions about sustainability.
• Insiders have been selling (50,821 shares worth $266,138 in the past 90 days), and analysts' consensus rating is "Reduce" with an average price target of $4.70; the stock trades around $5.11 with a negative P/E and a market cap near $409M.

SG Americas Securities LLC increased its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 1,597.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 297,027 shares of the company's stock after acquiring an additional 279,532 shares during the quarter. SG Americas Securities LLC owned approximately 0.37% of B&G Foods worth $1,277,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in shares of B&G Foods by 3.9% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 63,628 shares of the company's stock valued at $282,000 after acquiring an additional 2,379 shares during the period. Allworth Financial LP increased its holdings in shares of B&G Foods by 49.5% in the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company's stock valued at $35,000 after acquiring an additional 2,612 shares during the period. Savant Capital LLC increased its holdings in shares of B&G Foods by 10.3% in the 3rd quarter. Savant Capital LLC now owns 29,913 shares of the company's stock valued at $133,000 after acquiring an additional 2,792 shares during the period. Prudential Financial Inc. increased its holdings in shares of B&G Foods by 5.6% in the 2nd quarter. Prudential Financial Inc. now owns 83,807 shares of the company's stock valued at $355,000 after acquiring an additional 4,447 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of B&G Foods by 3.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 164,593 shares of the company's stock valued at $760,000 after acquiring an additional 4,923 shares during the period. 66.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at B&G Foods

In other news, Director David L. Wenner sold 19,500 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $101,205.00. Following the transaction, the director directly owned 787,566 shares of the company's stock, valued at $4,087,467.54. This represents a 2.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew D. Vogel sold 20,000 shares of the business's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $103,800.00. Following the completion of the sale, the executive vice president owned 50,679 shares in the company, valued at $263,024.01. This represents a 28.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,821 shares of company stock valued at $266,138 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

B&G Foods Stock Performance

NYSE:BGS opened at $5.11 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 3.32 and a debt-to-equity ratio of 4.30. B&G Foods, Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $7.24. The stock has a market cap of $408.97 million, a PE ratio of -9.47 and a beta of 0.46. The firm's fifty day simple moving average is $5.07 and its 200-day simple moving average is $4.65.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, hitting analysts' consensus estimates of $0.28. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The business had revenue of $539.56 million for the quarter, compared to analysts' expectations of $537.50 million. During the same period in the prior year, the company posted $0.31 EPS. The business's revenue for the quarter was down 2.2% on a year-over-year basis. Analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 14.9%. B&G Foods's dividend payout ratio is -140.74%.

Wall Street Analyst Weigh In

BGS has been the topic of several recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of B&G Foods in a research note on Monday, December 29th. Barclays boosted their price objective on shares of B&G Foods from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Evercore set a $5.00 price objective on shares of B&G Foods in a research note on Wednesday, March 4th. Finally, TD Cowen reissued a "sell" rating on shares of B&G Foods in a research note on Wednesday, March 4th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $4.70.

B&G Foods Company Profile

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.

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