Bruce C. Wacha Acquires 315 Shares of B&G Foods, Inc. (BGS) Stock
B&G Foods, Inc. (NYSE:BGS) EVP Bruce C. Wacha bought 315 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was bought at an average cost of $31.79 per share, for a total transaction of $10,013.85. Following the acquisition, the executive vice president now owns 315 shares of the company’s stock, valued at approximately $10,013.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of B&G Foods, Inc. (NYSE:BGS) traded down 0.96% on Friday, reaching $31.00. The company had a trading volume of 789,913 shares. The stock has a 50 day moving average price of $33.78 and a 200-day moving average price of $39.02. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 20.53 and a beta of 0.09. B&G Foods, Inc. has a 12 month low of $30.80 and a 12 month high of $50.81.
B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by $0.06. The business had revenue of $368.10 million for the quarter, compared to the consensus estimate of $376.45 million. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. Analysts forecast that B&G Foods, Inc. will post $2.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, September 28th. B&G Foods’s payout ratio is 122.37%.
Several hedge funds have recently modified their holdings of BGS. Great West Life Assurance Co. Can boosted its stake in shares of B&G Foods by 6.3% in the first quarter. Great West Life Assurance Co. Can now owns 93,697 shares of the company’s stock valued at $3,766,000 after buying an additional 5,587 shares during the last quarter. Channing Capital Management LLC purchased a new stake in B&G Foods during the first quarter worth approximately $11,526,000. Kornitzer Capital Management Inc. KS purchased a new stake in B&G Foods during the first quarter worth approximately $5,666,000. Wells Fargo & Company MN boosted its stake in B&G Foods by 12.1% in the first quarter. Wells Fargo & Company MN now owns 288,913 shares of the company’s stock worth $11,629,000 after buying an additional 31,118 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its stake in B&G Foods by 873.0% in the first quarter. North Star Investment Management Corp. now owns 2,919 shares of the company’s stock worth $117,000 after buying an additional 2,619 shares in the last quarter. Institutional investors own 93.48% of the company’s stock.
A number of research firms have recently issued reports on BGS. BMO Capital Markets reissued a “hold” rating and issued a $45.00 target price on shares of B&G Foods in a report on Friday, May 5th. BidaskClub lowered B&G Foods from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered B&G Foods from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 target price on shares of B&G Foods in a report on Tuesday, July 18th. Finally, Citigroup Inc. raised B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. B&G Foods presently has an average rating of “Hold” and a consensus target price of $42.61.
About B&G Foods
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, 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, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products.
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