MetLife Investment Advisors LLC raised its position in B&G Foods, Inc. (NYSE:BGS) by 8.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 30,133 shares of the company’s stock after purchasing an additional 2,312 shares during the period. MetLife Investment Advisors LLC’s holdings in B&G Foods were worth $901,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. grace capital raised its holdings in B&G Foods by 88.8% during the second quarter. grace capital now owns 19,010 shares of the company’s stock worth $568,000 after buying an additional 8,940 shares during the last quarter. Macquarie Group Ltd. acquired a new position in B&G Foods during the second quarter worth $185,000. Cubist Systematic Strategies LLC acquired a new position in B&G Foods during the second quarter worth $205,000. Raymond James & Associates raised its holdings in B&G Foods by 1.4% during the second quarter. Raymond James & Associates now owns 464,218 shares of the company’s stock worth $13,880,000 after buying an additional 6,628 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in B&G Foods by 41.9% during the second quarter. Tocqueville Asset Management L.P. now owns 169,900 shares of the company’s stock worth $5,080,000 after buying an additional 50,200 shares during the last quarter. Hedge funds and other institutional investors own 99.13% of the company’s stock.
NYSE BGS opened at $28.90 on Thursday. B&G Foods, Inc. has a 1 year low of $22.00 and a 1 year high of $39.75. The company has a debt-to-equity ratio of 2.51, a current ratio of 3.73 and a quick ratio of 1.31. The firm has a market capitalization of $1.93 billion, a PE ratio of 13.63 and a beta of 0.46.
B&G Foods (NYSE:BGS) last posted its earnings results on Thursday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). B&G Foods had a return on equity of 16.12% and a net margin of 11.23%. The firm had revenue of $388.40 million during the quarter, compared to the consensus estimate of $386.91 million. During the same quarter in the previous year, the company earned $0.41 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. analysts forecast that B&G Foods, Inc. will post 2.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Friday, September 28th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.90 annualized dividend and a dividend yield of 6.57%. B&G Foods’s payout ratio is 89.62%.
Several research firms have weighed in on BGS. ValuEngine upgraded shares of B&G Foods from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Royal Bank of Canada restated a “buy” rating and set a $39.00 price objective on shares of B&G Foods in a report on Friday, August 3rd. Finally, Piper Jaffray Companies began coverage on shares of B&G Foods in a report on Tuesday, June 19th. They set a “neutral” rating and a $31.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.13.
About B&G Foods
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in 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 vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.
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