Capital Financial Services LLC Boosts Stake in B&G Foods, Inc. (NYSE:BGS)

Capital Financial Services LLC grew its position in shares of B&G Foods, Inc. (NYSE:BGS – Get Rating) by 8.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,260 shares of the company’s stock after acquiring an additional 1,100 shares during the period. Capital Financial Services LLC’s holdings in B&G Foods were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC grew its stake in shares of B&G Foods by 348.2% in the 3rd quarter. Global Retirement Partners LLC now owns 2,250 shares of the company’s stock worth $37,000 after buying an additional 1,748 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in shares of B&G Foods in the 2nd quarter worth approximately $38,000. CNB Bank purchased a new stake in shares of B&G Foods in the 2nd quarter worth approximately $52,000. CWM LLC grew its stake in shares of B&G Foods by 35.2% in the 3rd quarter. CWM LLC now owns 3,183 shares of the company’s stock worth $52,000 after buying an additional 829 shares during the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new stake in shares of B&G Foods in the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 63.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BGS. Credit Suisse Group cut their price target on B&G Foods from $14.50 to $12.50 and set an “underperform” rating on the stock in a research note on Thursday, November 10th. BMO Capital Markets cut their target price on B&G Foods from $21.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, November 10th. Consumer Edge downgraded B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 target price on the stock. in a research note on Thursday, December 1st. Royal Bank of Canada cut their target price on B&G Foods from $24.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Friday, November 11th. Finally, StockNews.com began coverage on B&G Foods in a research note on Wednesday, October 12th. They set a “sell” rating on the stock. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.70.

B&G Foods Trading Up 0.1 %

BGS traded up $0.01 during trading on Wednesday, hitting $14.03. 109,959 shares of the company’s stock traded hands, compared to its average volume of 1,090,627. The company’s 50 day simple moving average is $12.81 and its two-hundred day simple moving average is $16.91. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.98 and a current ratio of 3.27. B&G Foods, Inc. has a 12-month low of $10.91 and a 12-month high of $31.66.

B&G Foods (NYSE:BGS – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $531.32 million. B&G Foods had a positive return on equity of 8.55% and a negative net margin of 1.92%. As a group, equities analysts expect that B&G Foods, Inc. will post 0.96 EPS for the current fiscal year.

B&G Foods Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 30th. Stockholders of record on Friday, December 30th were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, December 29th. This represents a $0.76 annualized dividend and a dividend yield of 5.42%. B&G Foods’s payout ratio is -135.71%.

Insider Activity

In other news, Director David L. Wenner purchased 20,000 shares of the stock in a transaction dated Monday, November 14th. The shares were purchased at an average cost of $14.01 per share, with a total value of $280,200.00. Following the acquisition, the director now directly owns 760,392 shares of the company’s stock, valued at $10,653,091.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

B&G Foods Company Profile

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B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.