Burney Co. Sells 5,310 Shares of B&G Foods, Inc. (NYSE:BGS)

Burney Co. decreased its stake in shares of B&G Foods, Inc. (NYSE:BGSFree Report) by 34.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,260 shares of the company’s stock after selling 5,310 shares during the period. Burney Co.’s holdings in B&G Foods were worth $101,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of B&G Foods by 124.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the company’s stock valued at $29,000 after buying an additional 1,039 shares during the last quarter. State of Wyoming purchased a new position in shares of B&G Foods during the second quarter valued at approximately $30,000. Nomura Asset Management Co. Ltd. boosted its position in shares of B&G Foods by 117.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $31,000 after buying an additional 1,080 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of B&G Foods during the first quarter valued at approximately $33,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of B&G Foods by 818.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 3,344 shares of the company’s stock valued at $52,000 after buying an additional 2,980 shares during the last quarter. Hedge funds and other institutional investors own 63.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com lowered B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. TheStreet lowered B&G Foods from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $9.17.

Read Our Latest Research Report on BGS

B&G Foods Stock Performance

NYSE:BGS opened at $9.71 on Friday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.76 and a current ratio of 1.52. B&G Foods, Inc. has a 52-week low of $7.20 and a 52-week high of $16.68. The firm has a market cap of $763.44 million, a price-to-earnings ratio of -17.04 and a beta of 0.67. The business’s fifty day moving average is $10.34 and its 200 day moving average is $10.39.

B&G Foods (NYSE:BGSGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $505.34 million. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. Research analysts predict that B&G Foods, Inc. will post 0.97 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th were paid a $0.19 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.76 dividend on an annualized basis and a yield of 7.83%. B&G Foods’s dividend payout ratio is currently -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.

Further Reading

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

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