Bank of America Corp DE lowered its stake in B&G Foods, Inc. (NYSE:BGS) by 37.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,512 shares of the company’s stock after selling 85,621 shares during the period. Bank of America Corp DE owned about 0.22% of B&G Foods worth $5,857,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Tyers Asset Management LLC increased 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. increased 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. increased 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 increased 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 increased 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. Institutional investors and hedge funds own 93.48% of the company’s stock.
B&G Foods, Inc. (NYSE BGS) opened at 31.65 on Thursday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 20.77 and a beta of 0.09. The company’s 50-day moving average is $34.54 and its 200-day moving average is $39.62. 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 posted its earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $376.45 million. During the same quarter last year, the business posted $0.57 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. Equities analysts predict that B&G Foods, Inc. will post $2.07 earnings per share for the current year.
The company 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 dividend of $0.465 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.88%. B&G Foods’s dividend payout ratio (DPR) is presently 122.37%.
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Several research firms 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, August 8th. Credit Suisse Group set a $36.00 price objective on shares of B&G Foods and gave the stock a “hold” rating in a research note on Saturday, August 5th. BMO Capital Markets upgraded shares of B&G Foods from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th. BidaskClub cut shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Buckingham Research reduced their target price on shares of B&G Foods from $43.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $42.17.
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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