Capstone Asset Management Co. decreased its stake in B&G Foods, Inc. (NYSE:BGS) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,173 shares of the company’s stock after selling 970 shares during the period. Capstone Asset Management Co.’s holdings in B&G Foods were worth $540,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of BGS. Tyers Asset Management LLC raised its stake in 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 last quarter. North Star Investment Management Corp. raised its stake in 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 last quarter. Northwestern Mutual Wealth Management Co. raised its stake in 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 last quarter. Elkfork Partners LLC raised its stake in 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 last quarter. Finally, LS Investment Advisors LLC raised its stake in 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 last quarter. 88.67% of the stock is owned by institutional investors.
Shares of B&G Foods, Inc. (NYSE:BGS) traded up 3.00% during trading on Friday, reaching $32.60. 1,094,644 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $34.98 and its 200-day moving average price is $39.94. The stock has a market cap of $2.17 billion, a PE ratio of 21.39 and a beta of 0.09. B&G Foods, Inc. has a 52-week low of $30.95 and a 52-week high of $50.81.
B&G Foods (NYSE:BGS) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.06. The company had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. B&G Foods’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. On average, equities research analysts forecast that B&G Foods, Inc. will post $2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Thursday, September 28th. B&G Foods’s dividend payout ratio (DPR) is currently 122.37%.
A number of analysts recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 price target on shares of B&G Foods in a report on Tuesday, May 23rd. Zacks Investment Research raised shares of B&G Foods from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday, May 26th. Citigroup Inc. raised shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 20th. Barclays PLC lowered their price target on shares of B&G Foods from $46.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Berenberg Bank assumed coverage on shares of B&G Foods in a report on Tuesday, May 16th. They issued a “hold” rating and a $43.50 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. B&G Foods presently has an average rating of “Hold” and a consensus target price 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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