B&G Foods, Inc. (NYSE:BGS) Shares Purchased by Texas Permanent School Fund

Texas Permanent School Fund boosted its stake in B&G Foods, Inc. (NYSE:BGSGet Rating) by 2.6% in the 3rd quarter, Holdings Channel reports. The firm owned 50,985 shares of the company’s stock after buying an additional 1,306 shares during the quarter. Texas Permanent School Fund’s holdings in B&G Foods were worth $841,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. AE Wealth Management LLC increased its holdings in B&G Foods by 10.1% in the 3rd quarter. AE Wealth Management LLC now owns 44,559 shares of the company’s stock valued at $735,000 after purchasing an additional 4,093 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of B&G Foods by 1.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 84,597 shares of the company’s stock valued at $1,395,000 after acquiring an additional 1,087 shares in the last quarter. Gilman Hill Asset Management LLC grew its stake in shares of B&G Foods by 5.9% during the third quarter. Gilman Hill Asset Management LLC now owns 294,071 shares of the company’s stock valued at $4,849,000 after acquiring an additional 16,510 shares in the last quarter. Retirement Planning Co of New England Inc. grew its stake in shares of B&G Foods by 17.1% during the third quarter. Retirement Planning Co of New England Inc. now owns 14,991 shares of the company’s stock valued at $247,000 after acquiring an additional 2,189 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of B&G Foods during the third quarter valued at about $564,000. 63.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Credit Suisse Group lowered their target price on B&G Foods from $14.50 to $12.50 and set an “underperform” rating for the company in a research note on Thursday, November 10th. Royal Bank of Canada lowered their target price on B&G Foods from $24.00 to $16.00 and set a “sector perform” rating for the company in a research note on Friday, November 11th. Consumer Edge downgraded B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 target price for the company. in a research note on Thursday, December 1st. BMO Capital Markets reduced their price target on shares of B&G Foods from $21.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday, November 10th. Finally, StockNews.com assumed coverage on shares of B&G Foods in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, B&G Foods currently has a consensus rating of “Hold” and a consensus price target of $15.70.

B&G Foods Stock Performance

Shares of NYSE BGS opened at $13.84 on Friday. The company has a quick ratio of 0.98, a current ratio of 3.27 and a debt-to-equity ratio of 2.88. The firm’s 50-day moving average price is $12.79 and its two-hundred day moving average price is $17.76. B&G Foods, Inc. has a 52-week low of $10.91 and a 52-week high of $33.69. The stock has a market capitalization of $991.91 million, a P/E ratio of -24.71 and a beta of 0.36.

B&G Foods (NYSE:BGSGet Rating) last issued its earnings results on Wednesday, November 9th. The company reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. B&G Foods had a negative net margin of 1.92% and a positive return on equity of 8.55%. The firm had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $531.32 million. As a group, sell-side analysts forecast that B&G Foods, Inc. will post 0.96 earnings per share for the current year.

B&G Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Friday, December 30th will be issued a $0.19 dividend. The ex-dividend date is Thursday, December 29th. This represents a $0.76 dividend on an annualized basis and a yield of 5.49%. B&G Foods’s dividend payout ratio is currently -135.71%.

Insiders Place Their Bets

In other B&G Foods news, Director David L. Wenner bought 20,000 shares of the business’s stock in a transaction on Monday, November 14th. The shares were purchased at an average price of $14.01 per share, with a total value of $280,200.00. Following the completion of the acquisition, the director now directly owns 760,392 shares of the company’s stock, valued at approximately $10,653,091.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

B&G Foods Profile

(Get Rating)

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

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

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