Envestnet Asset Management Inc. boosted its position in B&G Foods, Inc. (NYSE:BGS) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 51,043 shares of the company’s stock after acquiring an additional 1,441 shares during the period. Envestnet Asset Management Inc. owned 0.08% of B&G Foods worth $1,062,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Gilman Hill Asset Management LLC raised its stake in B&G Foods by 2.0% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 159,134 shares of the company’s stock valued at $3,310,000 after acquiring an additional 3,120 shares during the period. Factorial Partners LLC increased its position in shares of B&G Foods by 34.8% during the first quarter. Factorial Partners LLC now owns 40,700 shares of the company’s stock valued at $994,000 after buying an additional 10,500 shares during the period. Aperio Group LLC increased its position in shares of B&G Foods by 10.5% during the second quarter. Aperio Group LLC now owns 41,842 shares of the company’s stock valued at $870,000 after buying an additional 3,987 shares during the period. SG Americas Securities LLC bought a new stake in shares of B&G Foods during the first quarter valued at about $599,000. Finally, Bessemer Group Inc. bought a new stake in shares of B&G Foods during the second quarter valued at about $797,000. Institutional investors and hedge funds own 97.34% of the company’s stock.
Shares of NYSE:BGS traded up $0.36 during trading on Friday, reaching $19.94. 947,393 shares of the company traded hands, compared to its average volume of 1,380,689. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.78 and a beta of 0.46. B&G Foods, Inc. has a 52-week low of $16.70 and a 52-week high of $33.00. The company has a current ratio of 3.02, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12. The business’s fifty day moving average is $18.53 and its 200-day moving average is $21.83.
B&G Foods (NYSE:BGS) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $371.20 million during the quarter, compared to analyst estimates of $370.24 million. B&G Foods had a return on equity of 13.04% and a net margin of 10.75%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, sell-side analysts predict that B&G Foods, Inc. will post 1.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, September 27th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 9.53%. B&G Foods’s dividend payout ratio is presently 102.70%.
BGS has been the topic of several analyst reports. ValuEngine cut B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd. Barclays reiterated a “hold” rating and set a $22.00 price target on shares of B&G Foods in a research report on Monday, July 15th. Credit Suisse Group cut their price objective on B&G Foods from $19.00 to $17.00 and set an “underperform” rating for the company in a report on Friday, August 30th. Finally, Evercore ISI began coverage on B&G Foods in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $25.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.94.
In other B&G Foods news, Director Deann L. Brunts bought 2,483 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $18.98 per share, for a total transaction of $47,127.34. Following the completion of the acquisition, the director now directly owns 22,272 shares in the company, valued at $422,722.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.
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, oatmeal and 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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