back to top
HomeMarketB&G Meals EVP Scott Lerner purchases $49,998 in frequent inventory By Investing.com

B&G Meals EVP Scott Lerner purchases $49,998 in frequent inventory By Investing.com

-

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.

This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

CAPTCHA


LATEST POSTS

Tuofa CNC Machining Launches Patented Precision Turning Know-how – Blockchain Information Web site

Shenzhen, Guangdong, China, thirteenth Dec 2024 – Tuofa CNC Machining, a world chief in superior CNC machining options, proudly declares the launch of its patented precision...

This future FTSE 100 inventory seems like a unnecessary danger to me

Picture supply: Getty Pictures Coca-Cola Europacific Companions (LSE:CCEP) is about to affix the FTSE...

A Revolution in Unity and Function – Blockchain Information Web site

In an period of unprecedented international challenges, a revolutionary drive has emerged that's uniting individuals throughout borders, cultures, and ideologies. Enter the Banana Republic, a...

Bitcoin’s surge again to $101K – Mapping the highway forward

contributor Posted: December 13, 2024 Bitcoin’s surge again to $101K is fueled by massive HODLers capitalizing on the dip.  A brand new all-time excessive might be inside attain,...

Most Popular