Diversified Trust Co Purchases Shares of 6,050 B&G Foods, Inc. (BGS)

Diversified Trust Co purchased a new stake in B&G Foods, Inc. (NYSE:BGS) during the second quarter, Holdings Channel reports. The fund purchased 6,050 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in B&G Foods by 134,853.6% in the first quarter. BlackRock Inc. now owns 7,858,346 shares of the company’s stock worth $316,296,000 after buying an additional 7,852,523 shares during the period. Vanguard Group Inc. boosted its stake in B&G Foods by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,133,609 shares of the company’s stock worth $246,879,000 after buying an additional 231,982 shares during the period. FMR LLC boosted its stake in B&G Foods by 12.9% in the first quarter. FMR LLC now owns 5,854,515 shares of the company’s stock worth $235,645,000 after buying an additional 667,093 shares during the period. Edge Asset Management Inc. boosted its stake in B&G Foods by 14.4% in the first quarter. Edge Asset Management Inc. now owns 2,397,473 shares of the company’s stock worth $96,499,000 after buying an additional 302,496 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in B&G Foods by 4.9% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,369,418 shares of the company’s stock worth $95,369,000 after buying an additional 109,610 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

B&G Foods, Inc. (BGS) remained flat at $37.25 during trading on Friday. 1,050,308 shares of the company traded hands. The firm has a market cap of $2.48 billion, a PE ratio of 22.27 and a beta of 0.09. B&G Foods, Inc. has a 12 month low of $33.05 and a 12 month high of $52.84. The firm has a 50-day moving average of $37.04 and a 200 day moving average of $40.97.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The company had revenue of $417.90 million during the quarter, compared to the consensus estimate of $413.35 million. B&G Foods had a return on equity of 17.41% and a net margin of 7.49%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. Equities research analysts predict that B&G Foods, Inc. will post $2.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be issued a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 4.99%. The ex-dividend date is Wednesday, June 28th. B&G Foods’s payout ratio is presently 111.38%.

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A number of research firms have issued reports on BGS. Citigroup Inc. upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday. BidaskClub upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada reiterated a “buy” rating and issued a $52.00 target price on shares of B&G Foods in a research note on Tuesday. Finally, Zacks Investment Research cut shares of B&G Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. B&G Foods presently has an average rating of “Hold” and a consensus price target of $45.50.

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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