Public Employees Retirement System of Ohio maintained its position in shares of B&G Foods, Inc. (NYSE:BGS) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,170 shares of the company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in B&G Foods were worth $1,013,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of BGS. Tyers Asset Management LLC increased its position in shares of B&G Foods by 3.7% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock valued at $108,000 after buying an additional 96 shares during the period. North Star Investment Management Corp. increased its position in shares of B&G Foods by 873.0% in the first quarter. North Star Investment Management Corp. now owns 2,919 shares of the company’s stock valued at $117,000 after buying an additional 2,619 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of B&G Foods by 4.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,310 shares of the company’s stock valued at $133,000 after buying an additional 134 shares during the period. Elkfork Partners LLC increased its position in shares of B&G Foods by 3.7% in the first quarter. Elkfork Partners LLC now owns 3,696 shares of the company’s stock valued at $149,000 after buying an additional 132 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of B&G Foods by 54.1% in the first quarter. LS Investment Advisors LLC now owns 3,925 shares of the company’s stock valued at $158,000 after buying an additional 1,378 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.
Shares of B&G Foods, Inc. (NYSE:BGS) traded up 1.28% during midday trading on Thursday, reaching $31.65. 903,946 shares of the company’s stock were exchanged. B&G Foods, Inc. has a 12-month low of $30.95 and a 12-month high of $50.81. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 20.77 and a beta of 0.09. The stock’s 50 day moving average price is $35.23 and its 200 day moving average price is $40.08.
B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by $0.06. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The business had revenue of $368.10 million during the quarter, compared to the consensus estimate of $376.45 million. During the same quarter in the prior year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities analysts anticipate that B&G Foods, Inc. will post $2.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be issued a $0.465 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.86 annualized dividend and a dividend yield of 5.88%. B&G Foods’s dividend payout ratio is currently 122.37%.
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Several brokerages have recently commented on BGS. Barclays PLC lowered their price objective on shares of B&G Foods from $46.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday. Credit Suisse Group set a $36.00 price target on shares of B&G Foods and gave the stock a “hold” rating in a research note on Saturday, August 5th. BMO Capital Markets decreased their price target on shares of B&G Foods from $45.00 to $39.00 and set a “market perform” rating for the company in a research note on Friday, August 4th. BidaskClub downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Buckingham Research decreased their price target on shares of B&G Foods from $43.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. B&G Foods currently has a consensus rating of “Hold” and a consensus price target of $42.17.
B&G Foods Company Profile
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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