Tdam USA Inc. grew its position in B&G Foods, Inc. (NYSE:BGS) by 22.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 51,548 shares of the company’s stock after acquiring an additional 9,536 shares during the quarter. Tdam USA Inc.’s holdings in B&G Foods were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently bought and sold shares of BGS. Macquarie Group Ltd. acquired a new stake in shares of B&G Foods in the second quarter valued at approximately $185,000. Cubist Systematic Strategies LLC acquired a new stake in shares of B&G Foods in the second quarter valued at approximately $205,000. First Allied Advisory Services Inc. acquired a new stake in shares of B&G Foods in the second quarter valued at approximately $216,000. Selway Asset Management acquired a new stake in shares of B&G Foods in the second quarter valued at approximately $217,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of B&G Foods by 45.4% in the first quarter. Xact Kapitalforvaltning AB now owns 9,288 shares of the company’s stock valued at $220,000 after acquiring an additional 2,900 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BGS opened at $27.64 on Tuesday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.61 and a quick ratio of 0.79. B&G Foods, Inc. has a 1-year low of $22.00 and a 1-year high of $39.75. The firm has a market cap of $1.78 billion, a P/E ratio of 13.04 and a beta of 0.52.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. B&G Foods had a return on equity of 16.01% and a net margin of 11.09%. The firm had revenue of $422.60 million during the quarter, compared to the consensus estimate of $429.53 million. During the same period last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts predict 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. Investors of record on Monday, December 31st will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Friday, December 28th. B&G Foods’s dividend payout ratio is presently 89.62%.
Several equities research analysts have recently weighed in on BGS shares. Royal Bank of Canada reissued a “buy” rating and issued a $39.00 price objective on shares of B&G Foods in a report on Friday, August 3rd. Citigroup decreased their price objective on B&G Foods from $34.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. ValuEngine raised B&G Foods from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Credit Suisse Group increased their price objective on B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. B&G Foods currently has an average rating of “Hold” and a consensus target price of $34.22.
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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.
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