Vanguard Group Inc. boosted its position in shares of B&G Foods Inc. (NYSE:BGS) by 2.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,279,161 shares of the company’s stock after buying an additional 145,143 shares during the period. Vanguard Group Inc. owned about 8.43% of B&G Foods worth $254,456,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in BGS. LS Investment Advisors LLC boosted its position in B&G Foods by 1.9% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock worth $107,000 after buying an additional 42 shares during the last quarter. BlackRock Inc. boosted its position in B&G Foods by 133.8% in the first quarter. BlackRock Inc. now owns 4,096 shares of the company’s stock worth $143,000 after buying an additional 2,344 shares during the last quarter. IMS Capital Management purchased a new position in B&G Foods during the second quarter worth about $207,000. National Investment Services Inc. WI purchased a new position in B&G Foods during the second quarter worth about $218,000. Finally, Symons Capital Management Inc. purchased a new position in B&G Foods during the second quarter worth about $222,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Shares of B&G Foods Inc. (NYSE:BGS) opened at 48.3124 on Thursday. The stock has a market cap of $3.03 billion, a PE ratio of 30.4618 and a beta of 0.32. The firm has a 50-day moving average of $47.96 and a 200-day moving average of $44.36. B&G Foods Inc. has a one year low of $31.81 and a one year high of $52.84.
B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.11. The company had revenue of $306.40 million for the quarter, compared to the consensus estimate of $316.56 million. B&G Foods had a net margin of 7.76% and a return on equity of 22.59%. The firm’s revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. On average, equities research analysts expect that B&G Foods Inc. will post $2.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, September 28th. B&G Foods’s dividend payout ratio is presently 107.01%.
A number of equities analysts have issued reports on BGS shares. Zacks Investment Research upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Monday, August 1st. DA Davidson upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and boosted their price target for the company from $47.00 to $52.00 in a research report on Friday, July 29th. Credit Suisse Group AG set a $55.00 price target on shares of B&G Foods and gave the company a “hold” rating in a research report on Friday, October 7th. RBC Capital Markets reiterated an “outperform” rating and set a $57.00 price target (up previously from $52.00) on shares of B&G Foods in a research report on Friday, September 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of B&G Foods from $52.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.89.
B&G Foods Company Profile
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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