Principal Financial Group Inc. Raises Holdings in B&G Foods, Inc. (NYSE:BGS)

Principal Financial Group Inc. lifted its holdings in shares of B&G Foods, Inc. (NYSE:BGSFree Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 408,915 shares of the company’s stock after acquiring an additional 19,613 shares during the period. Principal Financial Group Inc.’s holdings in B&G Foods were worth $4,294,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of B&G Foods by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock worth $18,450,000 after acquiring an additional 181,724 shares during the last quarter. Invesco Ltd. grew its stake in shares of B&G Foods by 72.7% during the third quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock worth $10,760,000 after acquiring an additional 458,082 shares during the last quarter. Smith Graham & Co. Investment Advisors LP boosted its position in B&G Foods by 4.3% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 630,628 shares of the company’s stock valued at $6,622,000 after buying an additional 25,891 shares during the last quarter. Savoir Faire Capital Management L.P. boosted its position in B&G Foods by 3.5% in the fourth quarter. Savoir Faire Capital Management L.P. now owns 386,850 shares of the company’s stock valued at $4,062,000 after buying an additional 12,948 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in B&G Foods by 313.0% in the third quarter. GSA Capital Partners LLP now owns 317,922 shares of the company’s stock valued at $3,144,000 after buying an additional 240,943 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Insider Transactions at B&G Foods

In other B&G Foods news, EVP Scott E. Lerner bought 11,755 shares of B&G Foods stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $8.51 per share, with a total value of $100,035.05. Following the purchase, the executive vice president now directly owns 189,144 shares in the company, valued at approximately $1,609,615.44. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Bruce C. Wacha acquired 5,200 shares of B&G Foods stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $8.59 per share, with a total value of $44,668.00. Following the purchase, the chief financial officer now owns 91,328 shares in the company, valued at $784,507.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott E. Lerner acquired 11,755 shares of B&G Foods stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $8.51 per share, with a total value of $100,035.05. Following the completion of the purchase, the executive vice president now owns 189,144 shares in the company, valued at approximately $1,609,615.44. The disclosure for this purchase can be found here. Insiders acquired a total of 141,955 shares of company stock valued at $1,218,453 in the last three months. 3.20% of the stock is currently owned by company insiders.

B&G Foods Trading Up 0.2 %

B&G Foods stock opened at $9.20 on Friday. The company has a current ratio of 3.22, a quick ratio of 0.92 and a debt-to-equity ratio of 2.58. B&G Foods, Inc. has a 12 month low of $7.20 and a 12 month high of $15.15. The stock’s 50 day simple moving average is $10.50 and its two-hundred day simple moving average is $10.32. The firm has a market cap of $726.86 million, a PE ratio of -6.39 and a beta of 0.70.

B&G Foods (NYSE:BGSGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. The company had revenue of $475.22 million during the quarter, compared to analysts’ expectations of $480.93 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. Analysts anticipate that B&G Foods, Inc. will post 0.79 earnings per share for the current year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 8.27%. The ex-dividend date is Friday, June 28th. B&G Foods’s payout ratio is -52.78%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BGS shares. Piper Sandler upgraded B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Thursday, May 16th. StockNews.com lowered B&G Foods from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat, B&G Foods currently has a consensus rating of “Hold” and a consensus target price of $9.50.

View Our Latest Stock Analysis on B&G Foods

B&G Foods Profile

(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, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.

See Also

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

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