Park Avenue Securities LLC raised its position in B&G Foods, Inc. (NYSE:BGS) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,912 shares of the company’s stock after buying an additional 1,139 shares during the period. Park Avenue Securities LLC’s holdings in B&G Foods were worth $393,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in BGS. Ronna Sue Cohen boosted its position in B&G Foods by 2,375.1% in the first quarter. Ronna Sue Cohen now owns 678,277 shares of the company’s stock valued at $678,000 after buying an additional 650,873 shares in the last quarter. Norges Bank acquired a new position in B&G Foods in the fourth quarter valued at about $12,813,000. Bank of America Corp DE boosted its position in B&G Foods by 96.6% in the fourth quarter. Bank of America Corp DE now owns 331,558 shares of the company’s stock valued at $9,586,000 after buying an additional 162,920 shares in the last quarter. Inlet Private Wealth LLC acquired a new position in B&G Foods in the second quarter valued at about $2,934,000. Finally, Champlain Investment Partners LLC boosted its position in B&G Foods by 3.5% in the first quarter. Champlain Investment Partners LLC now owns 2,894,480 shares of the company’s stock valued at $70,683,000 after buying an additional 98,665 shares in the last quarter. Hedge funds and other institutional investors own 96.56% of the company’s stock.
Shares of BGS stock traded down $0.40 during trading hours on Wednesday, reaching $19.57. 20,731 shares of the company were exchanged, compared to its average volume of 1,379,855. B&G Foods, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $33.00. The business has a fifty day moving average price of $20.15. The firm has a market cap of $1.29 billion, a P/E ratio of 10.58 and a beta of 0.46. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.97 and a current ratio of 3.02.
B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. The company had revenue of $371.20 million for the quarter, compared to analyst estimates of $370.24 million. B&G Foods had a net margin of 10.75% and a return on equity of 13.04%. B&G Foods’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. As a group, sell-side analysts predict that B&G Foods, Inc. will post 1.8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 9.71%. The ex-dividend date of this dividend is Friday, September 27th. B&G Foods’s dividend payout ratio (DPR) is 102.70%.
BGS has been the topic of a number of research reports. Zacks Investment Research upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Evercore ISI initiated coverage on shares of B&G Foods in a research report on Tuesday, June 11th. They set an “in-line” rating and a $25.00 target price on the stock. ValuEngine lowered shares of B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd. Finally, Barclays reiterated a “hold” rating and set a $22.00 target price on shares of B&G Foods in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $26.19.
B&G Foods Profile
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, oatmeal and 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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