B&G Foods, Inc. (BGS) Shares Bought by Advantage Investment Management LLC

Advantage Investment Management LLC boosted its position in B&G Foods, Inc. (NYSE:BGS) by 212.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,763 shares of the company’s stock after purchasing an additional 2,557 shares during the period. Advantage Investment Management LLC’s holdings in B&G Foods were worth $120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in shares of B&G Foods by 4.4% during the 2nd quarter. Bank of Montreal Can now owns 5,000 shares of the company’s stock valued at $178,000 after acquiring an additional 211 shares during the last quarter. Aperio Group LLC lifted its position in shares of B&G Foods by 48.2% during the 2nd quarter. Aperio Group LLC now owns 25,318 shares of the company’s stock valued at $901,000 after acquiring an additional 8,229 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of B&G Foods by 4,241.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 336,309 shares of the company’s stock valued at $11,973,000 after acquiring an additional 328,563 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of B&G Foods by 17.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 21,160 shares of the company’s stock valued at $754,000 after acquiring an additional 3,090 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of B&G Foods by 3.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 97,089 shares of the company’s stock valued at $3,451,000 after acquiring an additional 3,392 shares during the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.

BGS has been the subject of a number of recent research reports. Berenberg Bank upgraded B&G Foods from a “hold” rating to a “buy” rating and cut their price objective for the company from $43.50 to $40.00 in a research report on Thursday, November 16th. Zacks Investment Research upgraded 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. Buckingham Research upgraded B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, August 23rd. Barclays reduced their target price on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating for the company in a report on Tuesday, August 8th. Finally, Stephens upgraded B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 target price for the company in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $40.22.

B&G Foods, Inc. (NYSE BGS) traded down $2.85 on Wednesday, hitting $36.15. The stock had a trading volume of 2,160,400 shares, compared to its average volume of 849,631. The stock has a market capitalization of $2,593.36, a price-to-earnings ratio of 21.31 and a beta of 0.18. B&G Foods, Inc. has a one year low of $29.50 and a one year high of $47.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 3.24 and a quick ratio of 1.06.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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 return on equity of 15.50% and a net margin of 6.29%. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 earnings per share. equities analysts expect that B&G Foods, Inc. will post 2.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be issued a $0.465 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.15%. B&G Foods’s payout ratio is currently 123.18%.

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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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Institutional Ownership by Quarter for B&G Foods (NYSE:BGS)

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