Stratos Wealth Partners LTD. decreased its position in B&G Foods, Inc. (NYSE:BGS) by 12.4% during the second quarter, Holdings Channel reports. The firm owned 7,077 shares of the company’s stock after selling 999 shares during the period. Stratos Wealth Partners LTD.’s holdings in B&G Foods were worth $252,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its position in B&G Foods by 134,853.6% in the first quarter. BlackRock Inc. now owns 7,858,346 shares of the company’s stock worth $316,296,000 after buying an additional 7,852,523 shares during the period. FMR LLC raised its position in B&G Foods by 12.9% in the first quarter. FMR LLC now owns 5,854,515 shares of the company’s stock worth $235,645,000 after buying an additional 667,093 shares during the period. Foresters Investment Management Company Inc. raised its position in B&G Foods by 102.9% in the first quarter. Foresters Investment Management Company Inc. now owns 784,300 shares of the company’s stock worth $31,568,000 after buying an additional 397,850 shares during the period. Russell Investments Group Ltd. raised its position in B&G Foods by 4,241.7% in the second quarter. Russell Investments Group Ltd. now owns 336,309 shares of the company’s stock worth $11,973,000 after buying an additional 328,563 shares during the period. Finally, Edge Asset Management Inc. raised its position in B&G Foods by 14.4% in the first quarter. Edge Asset Management Inc. now owns 2,397,473 shares of the company’s stock worth $96,499,000 after buying an additional 302,496 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.
B&G Foods, Inc. (NYSE BGS) opened at 31.65 on Friday. The stock has a 50 day moving average price of $35.10 and a 200 day moving average price of $40.02. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 20.77 and a beta of 0.09. B&G Foods, Inc. has a 52 week low of $30.95 and a 52 week high of $50.81.
B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.06. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The business had revenue of $368.10 million during the quarter, compared to analysts’ expectations of $376.45 million. During the same quarter last year, the business posted $0.57 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. On average, equities analysts forecast that B&G Foods, Inc. will post $2.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be given a $0.465 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.88%. B&G Foods’s dividend payout ratio (DPR) is presently 122.37%.
BGS has been the topic of several recent analyst reports. Berenberg Bank initiated coverage on B&G Foods in a research note on Tuesday, May 16th. They issued a “hold” rating and a $43.50 price target on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $52.00 price target on shares of B&G Foods in a research note on Thursday, April 20th. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, June 19th. Credit Suisse Group lowered B&G Foods from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $47.00 to $42.00 in a research note on Thursday, May 18th. Finally, Barclays PLC decreased their price target on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $42.17.
B&G Foods Company Profile
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across 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 vinegar, maple syrup, 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, nut clusters and other specialty products.
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