Scott E. Lerner, Govt Vice President and Normal Counsel of B&G Meals Inc. (NYSE:BGS), just 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 internet gross sales reaching $461.1 million and adjusted EBITDA at $70.4 million, each figures falling wanting expectations. Nonetheless, the corporate demonstrated a internet revenue restoration, posting a internet revenue of $7.5 million, a bounce again from a internet loss within the earlier 12 months. B&G Meals additionally revised its fiscal 2024 steering to $1.92 billion to $1.95 billion in internet gross sales, indicating a cautious but optimistic outlook for 2025.
TD Cowen just lately adjusted its outlook on B&G Meals, lowering the value goal to $7.50 from the earlier $8.00, whereas persevering with to advise buyers to promote. This transfer comes after B&G Meals reported earnings that fell wanting third-quarter expectations and supplied a decreased forecast for the fourth quarter. The corporate has indicated they anticipate a sequential enchancment in gross sales all through 2025, but additionally hinted at anticipating one other difficult 12 months forward, with potential detrimental gross sales within the first half.
The Spices and Taste Options section noticed a 2.6% gross sales improve, whereas different segments skilled declines. The corporate can also be present process portfolio restructuring, with potential divestitures of non-core property. 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 big low cost. In keeping with InvestingPro knowledge, BGS is presently 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 property.
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 buyers regardless of current challenges.
Whereas the inventory has skilled vital value declines over numerous 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, could sign a possible turnaround alternative for value-focused buyers.
It is price noting that InvestingPro presents 13 further suggestions for B&G Meals, offering a extra complete evaluation for these looking for deeper insights into the corporate’s monetary well being and market place.
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