Measured Wealth Private Client Group LLC purchased a new stake in shares of B&G Foods, Inc. (NYSE:BGS) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,748 shares of the company’s stock, valued at approximately $733,000. Measured Wealth Private Client Group LLC owned approximately 0.06% of B&G Foods at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in BGS. Townsend & Associates Inc bought a new position in shares of B&G Foods during the third quarter worth about $1,931,000. CHICAGO TRUST Co NA bought a new position in shares of B&G Foods during the third quarter worth about $208,000. State of Alaska Department of Revenue raised its position in shares of B&G Foods by 61.2% during the third quarter. State of Alaska Department of Revenue now owns 50,225 shares of the company’s stock worth $949,000 after acquiring an additional 19,064 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in shares of B&G Foods during the second quarter worth about $889,000. Finally, Griffin Asset Management Inc. bought a new position in shares of B&G Foods during the second quarter worth about $223,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.
BGS has been the subject of a number of research analyst reports. ValuEngine upgraded B&G Foods from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Barclays reiterated a “hold” rating and issued a $22.00 target price on shares of B&G Foods in a report on Monday, July 15th. Finally, Credit Suisse Group lowered their target price on B&G Foods from $19.00 to $17.00 and set an “underperform” rating for the company in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. B&G Foods presently has an average rating of “Hold” and an average target price of $25.94.
Shares of NYSE BGS traded up $0.25 during midday trading on Friday, hitting $16.83. 58,631 shares of the stock traded hands, compared to its average volume of 1,169,334. The company has a market cap of $1.08 billion, a PE ratio of 9.11 and a beta of 0.46. B&G Foods, Inc. has a one year low of $16.21 and a one year high of $31.60. The business has a 50 day moving average price of $18.46 and a two-hundred day moving average price of $21.05. 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 released its quarterly earnings data on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The firm had revenue of $371.20 million during the quarter, compared to the consensus estimate of $370.24 million. B&G Foods had a return on equity of 13.04% and a net margin of 10.75%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts forecast that B&G Foods, Inc. will post 1.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.90 annualized dividend and a dividend yield of 11.29%. B&G Foods’s dividend payout ratio is 102.70%.
In other news, Director Deann L. Brunts acquired 2,483 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $18.98 per share, for a total transaction of $47,127.34. Following the completion of the acquisition, the director now directly owns 22,272 shares in the company, valued at approximately $422,722.56. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.
B&G Foods Company 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.
Further Reading: Understanding the Price to Earnings Ratio (PE)
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