Northern Trust Corp trimmed its position in shares of B&G Foods, Inc. (NYSE:BGS) by 48.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 436,088 shares of the company’s stock after selling 403,305 shares during the quarter. Northern Trust Corp’s holdings in B&G Foods were worth $13,039,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in B&G Foods during the 2nd quarter worth approximately $226,000. Russell Investments Group Ltd. grew its holdings in shares of B&G Foods by 1.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 257,358 shares of the company’s stock valued at $7,707,000 after acquiring an additional 4,242 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of B&G Foods by 3.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 778,434 shares of the company’s stock valued at $23,275,000 after acquiring an additional 23,557 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of B&G Foods during the 2nd quarter valued at $991,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of B&G Foods by 9.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 664,195 shares of the company’s stock valued at $19,860,000 after acquiring an additional 55,197 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.
Several equities analysts have recently commented on BGS shares. ValuEngine cut shares of B&G Foods from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Royal Bank of Canada restated a “buy” rating and set a $39.00 price target on shares of B&G Foods in a report on Friday, August 3rd. Zacks Investment Research cut shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Credit Suisse Group boosted their price target on shares of B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a report on Wednesday, October 31st. Finally, Citigroup lowered their price target on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock 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 assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.22.
B&G Foods stock opened at $28.20 on Wednesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.79 and a current ratio of 1.61. B&G Foods, Inc. has a 12 month low of $22.00 and a 12 month high of $39.75. The firm has a market cap of $1.78 billion, a PE ratio of 13.30 and a beta of 0.52.
B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $422.60 million during the quarter, compared to analysts’ expectations of $429.53 million. B&G Foods had a net margin of 11.09% and a return on equity of 16.01%. B&G Foods’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, equities analysts expect that B&G Foods, Inc. will post 2.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Monday, December 31st will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend is Friday, December 28th. B&G Foods’s dividend payout ratio is presently 89.62%.
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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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