Raymond James Financial Services Advisors Inc. Sells 1,814 Shares of B&G Foods, Inc. (BGS)

Raymond James Financial Services Advisors Inc. lowered its position in B&G Foods, Inc. (NYSE:BGS) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,920 shares of the company’s stock after selling 1,814 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in B&G Foods were worth $560,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BGS. Eii Capital Management Inc. boosted its stake in shares of B&G Foods by 24.2% during the 3rd quarter. Eii Capital Management Inc. now owns 59,695 shares of the company’s stock worth $1,901,000 after acquiring an additional 11,625 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of B&G Foods by 5.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 475,959 shares of the company’s stock worth $15,160,000 after acquiring an additional 24,990 shares in the last quarter. National Investment Services Inc. WI boosted its stake in shares of B&G Foods by 16.2% during the 4th quarter. National Investment Services Inc. WI now owns 24,712 shares of the company’s stock worth $869,000 after acquiring an additional 3,438 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of B&G Foods by 46.9% during the 3rd quarter. Victory Capital Management Inc. now owns 20,254 shares of the company’s stock worth $645,000 after acquiring an additional 6,468 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of B&G Foods by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 133,140 shares of the company’s stock worth $4,241,000 after acquiring an additional 2,638 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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NYSE:BGS traded up $0.60 during mid-day trading on Friday, hitting $24.65. 1,031,037 shares of the company’s stock traded hands, compared to its average volume of 1,294,690. B&G Foods, Inc. has a 12 month low of $22.35 and a 12 month high of $43.10. The company has a market cap of $1,599.30, a price-to-earnings ratio of 11.63 and a beta of 0.27. The company has a quick ratio of 1.91, a current ratio of 4.40 and a debt-to-equity ratio of 2.52.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $473.70 million during the quarter, compared to analysts’ expectations of $482.51 million. B&G Foods had a return on equity of 17.29% and a net margin of 13.04%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS. analysts anticipate that B&G Foods, Inc. will post 2.12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a $0.465 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.86 annualized dividend and a yield of 7.55%. B&G Foods’s dividend payout ratio (DPR) is 87.74%.

B&G Foods declared that its board has approved a stock repurchase plan on Tuesday, March 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Several research firms have recently issued reports on BGS. Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Royal Bank of Canada reiterated a “buy” rating and set a $38.00 price target on shares of B&G Foods in a research note on Tuesday. William Blair restated a “market perform” rating on shares of B&G Foods in a research note on Thursday, March 1st. BMO Capital Markets restated an “outperform” rating and set a $37.00 target price (down previously from $39.00) on shares of B&G Foods in a research note on Thursday, March 1st. Finally, Buckingham Research decreased their target price on B&G Foods from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $35.89.

In other news, CEO Robert C. Cantwell purchased 10,000 shares of the business’s stock in a transaction on Friday, March 9th. The stock was purchased at an average price of $26.42 per share, with a total value of $264,200.00. Following the acquisition, the chief executive officer now directly owns 206,239 shares in the company, valued at approximately $5,448,834.38. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Vanessa E. Maskal sold 8,475 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $30.00, for a total value of $254,250.00. Following the completion of the transaction, the executive vice president now directly owns 102,319 shares of the company’s stock, valued at approximately $3,069,570. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 11,075 shares of company stock valued at $293,701. Insiders own 2.10% of the company’s stock.

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B&G Foods Company 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.

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

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