Raymond James Financial Services Advisors Inc. boosted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,516 shares of the company’s stock after buying an additional 715 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in B&G Foods were worth $517,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Tradition Capital Management LLC acquired a new position in B&G Foods during the 2nd quarter worth about $1,346,000. Brookstone Capital Management acquired a new position in B&G Foods during the 2nd quarter worth about $268,000. BNP Paribas Arbitrage SA raised its position in shares of B&G Foods by 60.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,479 shares of the company’s stock worth $765,000 after acquiring an additional 8,113 shares in the last quarter. Diversified Trust Co bought a new position in shares of B&G Foods in the 2nd quarter worth about $215,000. Finally, Biondo Investment Advisors LLC raised its position in shares of B&G Foods by 20.4% in the 2nd quarter. Biondo Investment Advisors LLC now owns 66,217 shares of the company’s stock worth $2,357,000 after acquiring an additional 11,222 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.
BGS has been the subject of several research analyst reports. Stephens raised B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a research report on Wednesday. Barclays PLC lowered their price objective on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 8th. Zacks Investment Research raised B&G Foods from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, October 17th. Credit Suisse Group set a $36.00 price objective on B&G Foods and gave the stock a “hold” rating in a research report on Saturday, August 5th. Finally, BidaskClub raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. B&G Foods has a consensus rating of “Buy” and a consensus price target of $40.61.
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B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.08. The company had revenue of $408.40 million during the quarter, compared to analyst estimates of $391.31 million. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. B&G Foods’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share.
About B&G Foods
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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