M Holdings Securities Inc. Raises Stock Position in B&G Foods, Inc. (NYSE:BGS)

M Holdings Securities Inc. boosted its position in shares of B&G Foods, Inc. (NYSE:BGSGet Rating) by 19.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,391 shares of the company’s stock after acquiring an additional 3,843 shares during the period. M Holdings Securities Inc.’s holdings in B&G Foods were worth $386,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BGS. Global Retirement Partners LLC grew its stake in B&G Foods by 348.2% during the third quarter. Global Retirement Partners LLC now owns 2,250 shares of the company’s stock valued at $37,000 after acquiring an additional 1,748 shares in the last quarter. CoreCap Advisors LLC purchased a new position in B&G Foods during the second quarter valued at approximately $38,000. CNB Bank purchased a new position in B&G Foods during the second quarter valued at approximately $52,000. CWM LLC grew its stake in B&G Foods by 35.2% during the third quarter. CWM LLC now owns 3,183 shares of the company’s stock valued at $52,000 after acquiring an additional 829 shares in the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new position in B&G Foods during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 63.71% of the company’s stock.

Insiders Place Their Bets

In other B&G Foods news, CFO Bruce C. Wacha sold 12,500 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $14.81, for a total value of $185,125.00. Following the completion of the sale, the chief financial officer now directly owns 46,491 shares in the company, valued at $688,531.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BGS has been the topic of a number of research analyst reports. StockNews.com started coverage on shares of B&G Foods in a report on Thursday. They issued a “sell” rating on the stock. Consumer Edge cut B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 target price on the stock. in a research note on Thursday, December 1st. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.70.

B&G Foods Stock Up 2.7 %

NYSE BGS opened at $15.02 on Thursday. The company has a debt-to-equity ratio of 2.70, a current ratio of 3.75 and a quick ratio of 1.08. The stock has a market capitalization of $1.08 billion, a PE ratio of -100.13 and a beta of 0.44. B&G Foods, Inc. has a 1 year low of $10.91 and a 1 year high of $29.33. The business’s 50-day moving average is $13.70 and its 200 day moving average is $14.75.

B&G Foods (NYSE:BGSGet Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.23 by $0.17. B&G Foods had a negative net margin of 0.53% and a positive return on equity of 8.97%. The business had revenue of $623.23 million during the quarter, compared to analyst estimates of $583.86 million. During the same period last year, the business posted $0.39 earnings per share. B&G Foods’s quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that B&G Foods, Inc. will post 1.03 earnings per share for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Friday, March 31st will be issued a $0.19 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.76 annualized dividend and a yield of 5.06%. B&G Foods’s dividend payout ratio (DPR) is presently -506.67%.

About B&G Foods

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B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.

Further Reading

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

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