Factorial Partners LLC Grows Stake in B&G Foods, Inc. (BGS)

Factorial Partners LLC lifted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 54.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,200 shares of the company’s stock after acquiring an additional 19,000 shares during the quarter. B&G Foods accounts for 1.3% of Factorial Partners LLC’s portfolio, making the stock its 27th largest holding. Factorial Partners LLC owned 0.08% of B&G Foods worth $1,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its stake in shares of B&G Foods by 45.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 9,288 shares of the company’s stock worth $220,000 after acquiring an additional 2,900 shares in the last quarter. Principal Financial Group Inc. increased its stake in B&G Foods by 14.5% during 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. Bank of Montreal Can bought a new stake in B&G Foods during the 2nd quarter valued at about $1,015,000. Fox Run Management L.L.C. bought a new stake in B&G Foods during the 2nd quarter valued at about $400,000. Finally, Nisa Investment Advisors LLC bought a new stake in B&G Foods during the 2nd quarter valued at about $1,632,000. 98.63% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE BGS opened at $30.18 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.79 and a debt-to-equity ratio of 2.07. The stock has a market cap of $1.97 billion, a PE ratio of 14.24 and a beta of 0.52. B&G Foods, Inc. has a 52-week low of $22.00 and a 52-week high of $39.75.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The firm 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 business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 EPS. On average, equities research 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. Stockholders of record on Monday, December 31st will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date of this dividend is Friday, December 28th. B&G Foods’s payout ratio is presently 89.62%.

A number of research firms have weighed in on BGS. Zacks Investment Research lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Royal Bank of Canada restated a “buy” rating and set a $39.00 price objective on shares of B&G Foods in a research note on Friday, August 3rd. ValuEngine upgraded shares of B&G Foods from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Credit Suisse Group raised their price objective on shares of B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday, October 31st. Finally, Citigroup reduced their price objective on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $34.22.

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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, 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.

Further Reading: Should You Consider an Index Fund?

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

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