Comerica Bank lessened its position in B&G Foods, Inc. (NYSE:BGS) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 292,452 shares of the company’s stock after selling 25,638 shares during the period. Comerica Bank owned about 0.44% of B&G Foods worth $8,086,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of BGS. BlackRock Inc. boosted its stake in shares of B&G Foods by 15.6% in the 2nd quarter. BlackRock Inc. now owns 9,170,456 shares of the company’s stock valued at $274,198,000 after purchasing an additional 1,234,551 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of B&G Foods by 14.5% in the 1st quarter. Principal Financial Group Inc. now owns 6,012,445 shares of the company’s stock valued at $142,496,000 after purchasing an additional 760,618 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of B&G Foods by 146.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,109,493 shares of the company’s stock valued at $33,174,000 after purchasing an additional 659,552 shares in the last quarter. Davidson Kempner Capital Management LP acquired a new stake in shares of B&G Foods in the 2nd quarter valued at $7,475,000. Finally, Jennison Associates LLC boosted its stake in shares of B&G Foods by 60.0% in the 2nd quarter. Jennison Associates LLC now owns 665,042 shares of the company’s stock valued at $19,885,000 after purchasing an additional 249,502 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of B&G Foods from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Credit Suisse Group upped their price target on shares of B&G Foods from $21.00 to $23.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 31st. Citigroup reduced their price target on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $39.00 price target on shares of B&G Foods in a research report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. B&G Foods presently has a consensus rating of “Hold” and a consensus price target of $34.22.
Shares of NYSE BGS opened at $29.05 on Friday. The stock has a market cap of $1.86 billion, a P/E ratio of 13.70 and a beta of 0.52. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.79 and a current ratio of 1.61. B&G Foods, Inc. has a 12-month low of $22.00 and a 12-month high of $39.75.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $422.60 million for the quarter, compared to the consensus estimate of $429.53 million. B&G Foods had a net margin of 11.09% and a return on equity of 16.01%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, sell-side analysts forecast that B&G Foods, Inc. will post 2.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Monday, December 31st will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.90 annualized dividend and a yield of 6.54%. B&G Foods’s dividend payout ratio (DPR) is 89.62%.
B&G Foods Profile
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, 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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