Signet Financial Management LLC decreased its stake in B&G Foods, Inc. (NYSE:BGS) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,044 shares of the company’s stock after selling 9,684 shares during the period. Signet Financial Management LLC owned approximately 0.21% of B&G Foods worth $2,535,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in BGS. Oregon Public Employees Retirement Fund lifted its holdings in shares of B&G Foods by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,535 shares of the company’s stock valued at $624,000 after acquiring an additional 461 shares during the period. Mason Street Advisors LLC lifted its holdings in B&G Foods by 2.9% during the 1st quarter. Mason Street Advisors LLC now owns 21,080 shares of the company’s stock valued at $515,000 after purchasing an additional 604 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in B&G Foods by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 64,870 shares of the company’s stock valued at $1,349,000 after buying an additional 700 shares in the last quarter. KC Investment Advisors LLC boosted its position in B&G Foods by 7.1% in the first quarter. KC Investment Advisors LLC now owns 11,730 shares of the company’s stock valued at $286,000 after buying an additional 780 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. grew its stake in B&G Foods by 5.4% during the first quarter. Piedmont Investment Advisors Inc. now owns 16,538 shares of the company’s stock worth $404,000 after buying an additional 852 shares during the last quarter. Institutional investors and hedge funds own 97.34% of the company’s stock.
NYSE:BGS traded up $0.29 during trading hours on Wednesday, hitting $19.77. 80,427 shares of the stock were exchanged, compared to its average volume of 1,357,902. The company’s 50 day moving average is $18.51 and its two-hundred day moving average is $21.86. B&G Foods, Inc. has a twelve month low of $16.70 and a twelve month high of $33.00. The company has a quick ratio of 0.97, a current ratio of 3.02 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $1.27 billion, a P/E ratio of 10.58 and a beta of 0.46.
B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. The firm had revenue of $371.20 million for the quarter, compared to analyst estimates of $370.24 million. B&G Foods had a return on equity of 13.04% and a net margin of 10.75%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. On average, equities research analysts expect that B&G Foods, Inc. will post 1.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, September 27th. This represents a $1.90 annualized dividend and a yield of 9.61%. B&G Foods’s dividend payout ratio is currently 102.70%.
A number of research firms have recently issued reports on BGS. Barclays reiterated a “hold” rating and issued a $22.00 target price on shares of B&G Foods in a research note on Monday, July 15th. Credit Suisse Group reduced their price objective on B&G Foods from $19.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, August 30th. ValuEngine lowered B&G Foods from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 22nd. Finally, Evercore ISI started coverage on B&G Foods in a report on Tuesday, June 11th. They set an “in-line” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $25.94.
In other B&G Foods news, Director Deann L. Brunts bought 2,483 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $18.98 per share, for a total transaction of $47,127.34. Following the transaction, the director now owns 22,272 shares in the company, valued at approximately $422,722.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.20% of the company’s stock.
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, 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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