Insider Selling: B&G Foods (NYSE:BGS) EVP Sells 11,321 Shares of Stock

Key Points

• B&G Foods EVP Martin Schoch sold 11,321 shares on March 12 at an average price of $5.40 for $61,133.40, cutting his ownership by 24.79% to 34,347 shares.
• The company recently declared a quarterly dividend of $0.19 per share (annualized $0.76), implying a 14.4% yield while showing a negative payout ratio (-140.74%), suggesting the dividend may be unsustainable.
• B&G Foods reported quarterly EPS of $0.28 (in line with estimates) with revenue down 2.2% year-over-year and a negative net margin, and analysts’ consensus rating is Reduce with an average price target of $4.70.

B&G Foods, Inc. (NYSE:BGS - Get Free Report) EVP Martin Schoch sold 11,321 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $5.40, for a total value of $61,133.40. Following the sale, the executive vice president owned 34,347 shares of the company's stock, valued at $185,473.80. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

B&G Foods Price Performance

NYSE BGS traded down $0.11 during mid-day trading on Thursday, hitting $5.27. The stock had a trading volume of 1,798,815 shares, compared to its average volume of 2,615,457. The firm's 50 day moving average is $4.80 and its 200 day moving average is $4.60. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.32 and a quick ratio of 1.43. The stock has a market capitalization of $421.04 million, a price-to-earnings ratio of -9.75 and a beta of 0.46. B&G Foods, Inc. has a twelve month low of $3.67 and a twelve month high of $7.56.

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

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 14.4%. B&G Foods's payout ratio is presently -140.74%.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in B&G Foods by 502.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company's stock valued at $31,000 after purchasing an additional 6,207 shares during the last quarter. Triumph Capital Management acquired a new stake in shares of B&G Foods during the 3rd quarter worth approximately $34,000. Allworth Financial LP raised its position in shares of B&G Foods by 49.5% during the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company's stock valued at $35,000 after buying an additional 2,612 shares during the period. Federated Hermes Inc. purchased a new stake in shares of B&G Foods during the 2nd quarter valued at approximately $35,000. Finally, Capstone Financial Advisors Inc. acquired a new position in B&G Foods in the second quarter valued at approximately $42,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on BGS shares. Evercore set a $5.00 price objective on shares of B&G Foods in a report on Wednesday, March 4th. Barclays boosted their target price on B&G Foods from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. TD Cowen reaffirmed a "sell" rating on shares of B&G Foods in a report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of B&G Foods in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, B&G Foods has an average rating of "Reduce" and an average price target of $4.70.

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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