Arizona State Retirement System Acquires 100 Shares of B&G Foods, Inc. (BGS)

Arizona State Retirement System raised its stake in B&G Foods, Inc. (NYSE:BGS) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,689 shares of the company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System owned about 0.05% of B&G Foods worth $1,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BGS. Teachers Advisors LLC raised its position in B&G Foods by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 108,747 shares of the company’s stock valued at $4,763,000 after buying an additional 5,032 shares during the period. Creative Planning raised its position in B&G Foods by 1.4% in the first quarter. Creative Planning now owns 8,626 shares of the company’s stock valued at $347,000 after buying an additional 120 shares during the period. State of Alaska Department of Revenue raised its position in B&G Foods by 3.7% in the first quarter. State of Alaska Department of Revenue now owns 13,030 shares of the company’s stock valued at $523,000 after buying an additional 470 shares during the period. Fisher Asset Management LLC raised its position in B&G Foods by 43.9% in the first quarter. Fisher Asset Management LLC now owns 49,092 shares of the company’s stock valued at $1,976,000 after buying an additional 14,977 shares during the period. Finally, Glen Harbor Capital Management LLC raised its position in B&G Foods by 3.7% in the first quarter. Glen Harbor Capital Management LLC now owns 5,712 shares of the company’s stock valued at $230,000 after buying an additional 204 shares during the period. Hedge funds and other institutional investors own 94.09% of the company’s stock.

B&G Foods, Inc. (BGS) opened at 31.00 on Monday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 20.34 and a beta of 0.09. B&G Foods, Inc. has a 1-year low of $30.80 and a 1-year high of $50.81. The company has a 50-day moving average of $33.78 and a 200-day moving average of $39.02.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results 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 firm had revenue of $368.10 million during 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%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. Analysts predict that B&G Foods, Inc. will post $2.08 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 given a $0.465 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 6.00%. B&G Foods’s dividend payout ratio (DPR) is currently 122.37%.

BGS has been the topic of several recent research reports. Zacks Investment Research lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. BMO Capital Markets restated a “hold” rating and issued a $45.00 price target on shares of B&G Foods in a research report on Friday, May 5th. Berenberg Bank initiated coverage on shares of B&G Foods in a research report on Tuesday, May 16th. They issued a “hold” rating and a $43.50 price target on the stock. Credit Suisse Group lowered shares of B&G Foods from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $47.00 to $42.00 in a research report on Thursday, May 18th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $52.00 price target on shares of B&G Foods in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.61.

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.

Want to see what other hedge funds are holding BGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for B&G Foods, Inc. (NYSE:BGS).