B&G Foods, Inc. (NYSE:BGS) has reported a recent transaction involving Ellen M. Schum, the company's Executive Vice President and President of Specialty Brands. According to the latest filing, Schum sold a total of 18 shares of B&G Foods common stock at a price of $43.91 each, totaling $790.
This transaction took place on January 27, 2021, and following this sale, Schum's direct ownership in the company stands at 57,514 shares. The sale represents a minor adjustment to Schum's holdings in B&G Foods, a company known for its diverse portfolio of food and kindred products.
In addition to the sale, there were also transactions involving the acquisition of shares. Schum was granted 19,873 shares of restricted stock under the B&G Foods, Inc. Omnibus Incentive Compensation Plan, which will vest in thirds on March 25 of 2025, 2026, and 2027. It's important to note that these shares were granted at no immediate cost to Schum, hence the transaction total is reported as $0.
Furthermore, on March 25, 2024, Schum experienced the vesting of 6,546 shares of restricted stock, of which 2,243 shares were withheld by B&G Foods to satisfy tax withholding obligations. The price per share for this withholding was reported at $11.36, amounting to a total transaction value of $25,480.
Investors and followers of B&G Foods may consider these transactions as part of the normal course of business for executives who receive compensation in the form of equity. These filings provide transparency into the stock dealings of company insiders, offering a glimpse into their investment moves within the company.
InvestingPro Insights
B&G Foods (NYSE:BGS) has exhibited a mix of financial signals that could be of interest to investors following the company's insider transactions. With a market capitalization of approximately $901.03 million, B&G Foods appears to be a mid-sized player in the food industry. Notably, the company's P/E ratio stands at -12.76, reflecting investor sentiment about its earnings potential. However, when adjusting for the last twelve months as of Q4 2023, the P/E ratio improves to 15.81, suggesting a more favorable outlook on earnings.
According to InvestingPro Tips, B&G Foods is expected to see net income growth this year, which could explain the adjusted P/E ratio's recovery. Moreover, the company's valuation implies a strong free cash flow yield, indicating that it may generate ample cash relative to its share price. This is a crucial metric for value investors looking for potential bargains in the stock market.
For income-focused investors, B&G Foods has a track record of rewarding shareholders, having maintained dividend payments for 18 consecutive years. The company also boasts a high dividend yield of 6.84%, making it an attractive option for those seeking steady income streams from their investments.
One potential area of concern highlighted by InvestingPro Tips is that two analysts have revised their earnings estimates downwards for the upcoming period. While this may raise caution, it's balanced by the prediction that the company will be profitable this year. Moreover, B&G Foods' liquid assets exceed its short-term obligations, providing it with a solid liquidity position.
For those interested in delving deeper into B&G Foods' financials and future projections, the InvestingPro platform offers additional InvestingPro Tips. There are currently 9 more tips available, which can provide further context and analysis to help investors make informed decisions. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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