UBS Group AG Sells 249,092 Shares of B&G Foods, Inc. $BGS

Key Points

• UBS Group AG cut its B&G Foods stake by 23% in the fourth quarter, selling 249,092 shares and leaving it with 835,122 shares valued at about $3.59 million.
• Insider selling has also picked up, with EVP Martin C. Schoch and EVP Andrew D. Vogel selling shares in March; insiders sold 50,821 shares total over the last 90 days.
• B&G Foods reported mixed fundamentals and a high dividend yield: it matched EPS estimates but missed revenue expectations, while announcing a quarterly dividend of $0.095 per share, or a 9.1% annualized yield.

UBS Group AG reduced its stake in B&G Foods, Inc. (NYSE:BGS - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 835,122 shares of the company's stock after selling 249,092 shares during the period. UBS Group AG owned 1.04% of B&G Foods worth $3,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of B&G Foods by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,384,298 shares of the company's stock valued at $10,086,000 after purchasing an additional 119,362 shares during the last quarter. Millennium Management LLC increased its holdings in shares of B&G Foods by 15,131.8% in the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company's stock valued at $12,970,000 after purchasing an additional 1,875,589 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of B&G Foods by 3.4% in the third quarter. Two Sigma Investments LP now owns 1,644,731 shares of the company's stock valued at $7,286,000 after purchasing an additional 54,684 shares during the last quarter. Bank of America Corp DE grew its stake in shares of B&G Foods by 34.0% in the third quarter. Bank of America Corp DE now owns 1,598,910 shares of the company's stock valued at $7,083,000 after acquiring an additional 405,437 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of B&G Foods by 2.9% in the second quarter. Invesco Ltd. now owns 1,261,146 shares of the company's stock valued at $5,335,000 after acquiring an additional 36,037 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Martin C. Schoch sold 11,321 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $5.40, for a total transaction of $61,133.40. Following the completion of the sale, the executive vice president owned 34,347 shares of the company's stock, valued at approximately $185,473.80. This represents a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew D. Vogel sold 20,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $103,800.00. Following the sale, the executive vice president directly owned 50,679 shares of the company's stock, valued at $263,024.01. This represents a 28.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 50,821 shares of company stock valued at $266,138. 5.30% of the stock is currently owned by company insiders.

B&G Foods Stock Down 1.5%

BGS stock opened at $4.19 on Friday. The stock has a market capitalization of $339.70 million, a P/E ratio of -4.36 and a beta of 0.58. The company has a current ratio of 2.99, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96. B&G Foods, Inc. has a 12 month low of $3.67 and a 12 month high of $6.38. The firm has a 50-day moving average price of $5.05 and a 200-day moving average price of $4.80.

B&G Foods (NYSE:BGS - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The firm had revenue of $365.13 million during the quarter, compared to analysts' expectations of $398.81 million. B&G Foods had a negative net margin of 4.23% and a positive return on equity of 9.67%. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 earnings per share. B&G Foods has set its FY 2026 guidance at 0.575-0.675 EPS. As a group, equities research analysts anticipate that B&G Foods, Inc. will post 0.57 EPS for the current fiscal year.

B&G Foods Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Tuesday, June 30th. B&G Foods's dividend payout ratio is currently -79.17%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Evercore set a $5.00 price target on shares of B&G Foods in a research note on Wednesday, March 4th. TD Cowen restated a "sell" rating on shares of B&G Foods in a research note on Wednesday, March 4th. Barclays upped their price target on shares of B&G Foods from $5.00 to $6.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings downgraded shares of B&G Foods from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $4.88.

About B&G Foods

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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