Principal Financial Group Inc. Sells 20,674 Shares of B&G Foods, Inc. (NYSE:BGS)

Principal Financial Group Inc. lowered its stake in B&G Foods, Inc. (NYSE:BGSFree Report) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 389,302 shares of the company’s stock after selling 20,674 shares during the quarter. Principal Financial Group Inc.’s holdings in B&G Foods were worth $3,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of B&G Foods by 2.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 66,492 shares of the company’s stock valued at $1,794,000 after acquiring an additional 1,688 shares during the period. American Century Companies Inc. grew its position in shares of B&G Foods by 16.5% during the 1st quarter. American Century Companies Inc. now owns 18,804 shares of the company’s stock valued at $507,000 after purchasing an additional 2,664 shares in the last quarter. HighTower Advisors LLC raised its position in shares of B&G Foods by 13.6% in the first quarter. HighTower Advisors LLC now owns 13,087 shares of the company’s stock worth $352,000 after buying an additional 1,571 shares in the last quarter. Citigroup Inc. boosted its stake in B&G Foods by 5.7% during the first quarter. Citigroup Inc. now owns 61,601 shares of the company’s stock valued at $1,662,000 after buying an additional 3,303 shares during the period. Finally, MetLife Investment Management LLC grew its position in B&G Foods by 56.5% during the first quarter. MetLife Investment Management LLC now owns 33,903 shares of the company’s stock worth $915,000 after buying an additional 12,233 shares in the last quarter. Hedge funds and other institutional investors own 63.15% of the company’s stock.

Wall Street Analysts Forecast Growth

BGS has been the topic of several recent analyst reports. TheStreet cut B&G Foods from a “c-” rating to a “d+” rating in a report on Wednesday, November 8th. StockNews.com downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Finally, Barclays cut their price target on shares of B&G Foods from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $9.17.

Check Out Our Latest Research Report on BGS

B&G Foods Price Performance

BGS opened at $9.68 on Thursday. The company has a current ratio of 1.52, a quick ratio of 0.76 and a debt-to-equity ratio of 2.30. The stock has a market capitalization of $761.04 million, a P/E ratio of -16.98 and a beta of 0.67. The stock has a 50-day moving average price of $10.33 and a 200-day moving average price of $10.45. B&G Foods, Inc. has a 12-month low of $7.20 and a 12-month high of $16.68.

B&G Foods (NYSE:BGSGet Free Report) last released its earnings results on Wednesday, November 8th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. B&G Foods had a positive return on equity of 9.23% and a negative net margin of 2.11%. The company had revenue of $502.73 million during the quarter, compared to the consensus estimate of $505.34 million. During the same quarter in the previous year, the company posted $0.31 EPS. B&G Foods’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities analysts predict that B&G Foods, Inc. will post 0.97 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.85%. B&G Foods’s dividend payout ratio (DPR) is -133.33%.

About B&G Foods

(Free Report)

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, cookies and crackers, corn starch, nut clusters, and other specialty products.

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

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