Prudential Financial Inc. boosted its stake in shares of B&G Foods Inc. (NYSE:BGS) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,397 shares of the company’s stock after buying an additional 3,480 shares during the period. Prudential Financial Inc. owned approximately 0.24% of B&G Foods worth $7,346,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of BGS. Texas Permanent School Fund boosted its stake in B&G Foods by 3.1% in the first quarter. Texas Permanent School Fund now owns 49,582 shares of the company’s stock valued at $1,726,000 after buying an additional 1,503 shares during the last quarter. Aperio Group LLC boosted its stake in B&G Foods by 17.6% in the first quarter. Aperio Group LLC now owns 15,673 shares of the company’s stock valued at $546,000 after buying an additional 2,345 shares during the last quarter. CIBC World Markets Inc. acquired a new stake in B&G Foods during the first quarter valued at $361,000. Teachers Advisors Inc. boosted its stake in B&G Foods by 6.7% in the first quarter. Teachers Advisors Inc. now owns 87,652 shares of the company’s stock valued at $3,051,000 after buying an additional 5,491 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in B&G Foods by 133.8% in the first quarter. BlackRock Inc. now owns 4,096 shares of the company’s stock valued at $143,000 after buying an additional 2,344 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors.
Shares of B&G Foods Inc. (NYSE:BGS) opened at 48.22 on Friday. The stock has a 50 day moving average price of $47.94 and a 200 day moving average price of $44.05. The firm has a market capitalization of $3.02 billion, a P/E ratio of 30.40 and a beta of 0.32. B&G Foods Inc. has a 52 week low of $31.81 and a 52 week high of $52.84.
B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, July 28th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.11. B&G Foods had a net margin of 7.76% and a return on equity of 22.59%. The company earned $306.40 million during the quarter, compared to analyst estimates of $316.56 million. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 58.3% compared to the same quarter last year. Analysts forecast that B&G Foods Inc. will post $2.20 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.68 annualized dividend and a yield of 3.48%. B&G Foods’s dividend payout ratio (DPR) is presently 107.01%.
BGS has been the subject of several recent analyst reports. Zacks Investment Research cut B&G Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $45.00 target price on shares of B&G Foods in a research report on Thursday, July 28th. DA Davidson raised B&G Foods from a “neutral” rating to a “buy” rating and raised their target price for the stock from $47.00 to $52.00 in a research report on Friday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $49.00 target price (down from $52.00) on shares of B&G Foods in a research report on Friday, July 29th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $52.00 price target (up from $49.00) on shares of B&G Foods in a report on Sunday, July 31st. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.89.
About B&G Foods
B&G Foods, Inc is a holding company. The Company manufactures, sells and distributes a diverse portfolio of shelf-stable and frozen food, and household products 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.
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