Wipfli Financial Advisors LLC Acquires New Shares in B&G Foods, Inc. (NYSE:BGS)

Wipfli Financial Advisors LLC acquired a new stake in shares of B&G Foods, Inc. (NYSE:BGSGet Rating) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 3,250 shares of the company’s stock, valued at approximately $55,000.

Other hedge funds also recently modified their holdings of the company. Baird Financial Group Inc. boosted its holdings in shares of B&G Foods by 10.5% during the 2nd quarter. Baird Financial Group Inc. now owns 58,676 shares of the company’s stock valued at $1,395,000 after acquiring an additional 5,576 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of B&G Foods by 0.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 673,600 shares of the company’s stock valued at $16,018,000 after acquiring an additional 6,251 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of B&G Foods by 1,772.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 122,516 shares of the company’s stock valued at $62,000 after acquiring an additional 115,974 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of B&G Foods by 23.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 11,570 shares of the company’s stock valued at $275,000 after acquiring an additional 2,218 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new position in B&G Foods during the 2nd quarter worth about $60,000. Institutional investors and hedge funds own 63.71% of the company’s stock.

Insider Activity at B&G Foods

In other news, Director David L. Wenner bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was acquired at an average cost of $14.01 per share, with a total value of $280,200.00. Following the transaction, the director now directly owns 760,392 shares of the company’s stock, valued at approximately $10,653,091.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BGS. Credit Suisse Group cut their target price on B&G Foods from $14.50 to $12.50 and set an “underperform” rating on the stock in a report on Thursday, November 10th. StockNews.com began coverage on B&G Foods in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Royal Bank of Canada cut their target price on B&G Foods from $24.00 to $16.00 and set a “sector perform” rating on the stock in a report 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 on the stock. in a report on Thursday, December 1st. Finally, BMO Capital Markets cut their target price on B&G Foods from $21.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, November 10th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.70.

B&G Foods Stock Down 0.6 %

Shares of NYSE:BGS opened at $13.84 on Friday. The company has a market capitalization of $991.91 million, a price-to-earnings ratio of -24.71 and a beta of 0.36. The company has a debt-to-equity ratio of 2.88, a current ratio of 3.27 and a quick ratio of 0.98. The business’s 50-day moving average is $12.79 and its 200-day moving average is $17.76. B&G Foods, Inc. has a 1 year low of $10.91 and a 1 year high of $33.69.

B&G Foods (NYSE:BGSGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $528.40 million for the quarter, compared to the consensus estimate of $531.32 million. B&G Foods had a positive return on equity of 8.55% and a negative net margin of 1.92%. Equities research analysts predict that B&G Foods, Inc. will post 0.96 earnings per share for the current year.

B&G Foods Cuts Dividend

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

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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