Scott E. Lerner, Govt Vice President and Normal Counsel of B&G Meals Inc. (NYSE:BGS), lately acquired 7,611 shares of the corporate’s frequent inventory. The transaction was accomplished on November 8, with shares bought at a weighted common value of $6.5692, totaling roughly $49,998. The acquisition was executed in a number of trades, with costs starting from $6.5550 to $6.5700 per share. Following this acquisition, Lerner’s direct possession in B&G Meals stands at 196,755 shares.
In different current information, B&G Meals reported combined third-quarter earnings, with web gross sales reaching $461.1 million and adjusted EBITDA at $70.4 million, each figures falling in need of expectations. Nevertheless, the corporate demonstrated a web earnings restoration, posting a web earnings of $7.5 million, a bounce again from a web loss within the earlier yr. B&G Meals additionally revised its fiscal 2024 steerage to $1.92 billion to $1.95 billion in web gross sales, indicating a cautious but optimistic outlook for 2025.
TD Cowen lately adjusted its outlook on B&G Meals, lowering the worth goal to $7.50 from the earlier $8.00, whereas persevering with to advise traders to promote. This transfer comes after B&G Meals reported earnings that fell in need of third-quarter expectations and offered a diminished forecast for the fourth quarter. The corporate has indicated they anticipate a sequential enchancment in gross sales all through 2025, but in addition hinted at anticipating one other difficult yr forward, with potential unfavorable gross sales within the first half.
The Spices and Taste Options phase noticed a 2.6% gross sales enhance, whereas different segments skilled declines. The corporate can also be present process portfolio restructuring, with potential divestitures of non-core belongings. These current developments are a part of B&G Meals’ strategic efforts to drive development and handle prices amidst a difficult market setting.
InvestingPro Insights
Scott E. Lerner’s current buy of B&G Meals Inc. (NYSE:BGS) shares comes at a time when the inventory seems to be buying and selling at a major low cost. In accordance with InvestingPro information, BGS is at present buying and selling close to its 52-week low, with a price-to-book ratio of simply 0.69 as of the final twelve months ending Q3 2024. This valuation metric suggests the inventory could also be undervalued relative to its belongings.
The corporate’s engaging dividend yield of 11.71% aligns with an InvestingPro Tip indicating that B&G Meals “pays a significant dividend to shareholders.” Furthermore, the corporate has maintained dividend funds for 18 consecutive years, demonstrating a dedication to returning worth to traders regardless of current challenges.
Whereas the inventory has skilled vital value declines over varied time frames, with a 41.28% drop over the previous six months, one other InvestingPro Tip means that the “RSI indicates the stock is in oversold territory.” This technical indicator, coupled with the insider shopping for exercise, might sign a possible turnaround alternative for value-focused traders.
It is value noting that InvestingPro gives 13 further ideas for B&G Meals, offering a extra complete evaluation for these in search of deeper insights into the corporate’s monetary well being and market place.
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