Jennison Associates LLC Purchases New Holdings in B&G Foods, Inc. (NYSE:BGS)

Jennison Associates LLC purchased a new position in shares of B&G Foods, Inc. (NYSE:BGS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 238,862 shares of the company’s stock, valued at approximately $7,608,000. Jennison Associates LLC owned approximately 0.36% of B&G Foods as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BGS. Principal Financial Group Inc. boosted its holdings in shares of B&G Foods by 213.1% in the 2nd quarter. Principal Financial Group Inc. now owns 4,319,621 shares of the company’s stock valued at $153,779,000 after buying an additional 2,940,036 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of B&G Foods in the 2nd quarter valued at $26,312,000. Lord Abbett & CO. LLC acquired a new position in shares of B&G Foods in the 2nd quarter valued at $25,526,000. Russell Investments Group Ltd. boosted its holdings in shares of B&G Foods by 4,241.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 336,309 shares of the company’s stock valued at $11,973,000 after buying an additional 328,563 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of B&G Foods by 13.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,665,423 shares of the company’s stock valued at $84,894,000 after buying an additional 317,948 shares in the last quarter. Institutional investors own 94.13% of the company’s stock.

Shares of B&G Foods, Inc. (NYSE BGS) traded up $0.10 during trading on Monday, reaching $39.00. 1,069,893 shares of the company’s stock were exchanged, compared to its average volume of 844,006. The stock has a market cap of $2,590.00, a P/E ratio of 21.26 and a beta of 0.18. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.06 and a current ratio of 3.24. B&G Foods, Inc. has a 52 week low of $29.50 and a 52 week high of $47.75.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.55 EPS 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 the consensus estimate 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 quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 EPS. equities analysts anticipate that B&G Foods, Inc. will post 2.12 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be given a dividend of $0.465 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.86 dividend on an annualized basis and a yield of 4.77%. B&G Foods’s payout ratio is currently 122.37%.

BGS has been the subject of a number of recent research reports. Stephens upgraded shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price target for the company in a research note on Wednesday, November 1st. Barclays decreased their price target on shares of B&G Foods from $46.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, October 17th. Berenberg Bank upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and decreased their price target for the stock from $43.50 to $40.00 in a research note on Thursday, November 16th. Finally, Buckingham Research upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. B&G Foods has an average rating of “Buy” and an average target price of $40.22.

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B&G Foods 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.

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

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