Asset Management One Co. Ltd. Cuts Stake in B&G Foods, Inc. (BGS)

Asset Management One Co. Ltd. cut its holdings in B&G Foods, Inc. (NYSE:BGS) by 69.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,418 shares of the company’s stock after selling 77,100 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.05% of B&G Foods worth $1,031,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in shares of B&G Foods by 934.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock valued at $102,000 after purchasing an additional 2,599 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of B&G Foods by 61.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock valued at $109,000 after purchasing an additional 1,162 shares during the last quarter. Advantage Investment Management LLC increased its position in shares of B&G Foods by 212.0% during the 3rd quarter. Advantage Investment Management LLC now owns 3,763 shares of the company’s stock valued at $120,000 after purchasing an additional 2,557 shares during the last quarter. Sei Investments Co. increased its position in shares of B&G Foods by 298.9% during the 3rd quarter. Sei Investments Co. now owns 4,033 shares of the company’s stock valued at $128,000 after purchasing an additional 3,022 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of B&G Foods by 19.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,958 shares of the company’s stock valued at $141,000 after purchasing an additional 648 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on BGS. Zacks Investment Research lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Berenberg Bank raised shares of B&G Foods from a “hold” rating to a “buy” rating and reduced their target price for the stock from $43.50 to $40.00 in a report on Thursday, November 16th. Finally, Stephens raised shares of 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. B&G Foods currently has a consensus rating of “Hold” and a consensus price target of $40.22.

B&G Foods, Inc. (BGS) traded down $1.45 during midday trading on Friday, hitting $32.15. The stock had a trading volume of 1,776,246 shares, compared to its average volume of 1,240,000. The company has a market cap of $2,140.00, a P/E ratio of 21.15 and a beta of 0.18. B&G Foods, Inc. has a 52-week low of $29.50 and a 52-week high of $47.75. The company has a quick ratio of 1.06, a current ratio of 3.24 and a debt-to-equity ratio of 2.34.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.50% and a net margin of 6.29%. B&G Foods’s revenue was up 28.3% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. equities analysts expect that B&G Foods, Inc. will post 2.12 EPS for the current fiscal 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 given a dividend of $0.465 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.86 annualized dividend and a dividend yield of 5.79%. B&G Foods’s dividend payout ratio (DPR) is 122.37%.

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About B&G Foods

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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