Raymond James Financial Services Advisors Inc. lifted its stake in shares of B&G Foods, Inc. (NYSE:BGS – Get Rating) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 84,597 shares of the company’s stock after buying an additional 1,087 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in B&G Foods were worth $1,395,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BGS. CoreCap Advisors LLC acquired a new stake in B&G Foods in the 2nd quarter valued at about $38,000. CNB Bank purchased a new stake in B&G Foods in the 2nd quarter valued at about $52,000. CWM LLC lifted its holdings in shares of B&G Foods by 65.0% in the 2nd quarter. CWM LLC now owns 2,354 shares of the company’s stock worth $56,000 after acquiring an additional 927 shares during the last quarter. Clear Street Markets LLC lifted its stake in B&G Foods by 700.0% during the second quarter. Clear Street Markets LLC now owns 2,400 shares of the company’s stock worth $57,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in B&G Foods during the 2nd quarter worth about $58,000. 63.71% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on BGS. StockNews.com began coverage on B&G Foods in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Consumer Edge cut shares of B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 target price for the company. in a report on Thursday, December 1st. Credit Suisse Group dropped their price target on B&G Foods from $14.50 to $12.50 and set an “underperform” rating on the stock in a research note on Thursday, November 10th. BMO Capital Markets lowered their price objective 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, Royal Bank of Canada dropped 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. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, B&G Foods has an average rating of “Hold” and a consensus price target of $15.70.
Insider Activity at B&G Foods
B&G Foods Trading Up 0.4 %
B&G Foods stock opened at $14.09 on Friday. The stock has a 50-day moving average price of $12.72 and a 200 day moving average price of $17.54. B&G Foods, Inc. has a 52 week low of $10.91 and a 52 week high of $32.96. The stock has a market cap of $1.01 billion, a PE ratio of -25.16 and a beta of 0.36. The company has a current ratio of 3.27, a quick ratio of 0.98 and a debt-to-equity ratio of 2.88.
B&G Foods (NYSE:BGS – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $528.40 million for the quarter, compared to the consensus estimate of $531.32 million. B&G Foods had a negative net margin of 1.92% and a positive return on equity of 8.55%. Equities research analysts predict that B&G Foods, Inc. will post 0.96 earnings per share for the current fiscal year.
B&G Foods Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Stockholders 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 dividend yield of 5.39%. The ex-dividend date of this dividend is Thursday, December 29th. B&G Foods’s dividend payout ratio is currently -135.71%.
B&G Foods Profile
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.
- Get a free copy of the StockNews.com research report on B&G Foods (BGS)
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