Raymond James Financial Services Advisors Inc. boosted its position in B&G Foods, Inc. (NYSE:BGS – Get Rating) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,597 shares of the company’s stock after acquiring an additional 1,087 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.12% of B&G Foods worth $1,395,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new position in shares of B&G Foods in the 2nd quarter worth about $38,000. Ancora Advisors LLC bought a new stake in B&G Foods in the 1st quarter worth approximately $60,000. CNB Bank purchased a new stake in B&G Foods in the second quarter worth approximately $52,000. CWM LLC grew its position in B&G Foods by 65.0% during the second quarter. CWM LLC now owns 2,354 shares of the company’s stock valued at $56,000 after acquiring an additional 927 shares during the last quarter. Finally, Clear Street Markets LLC raised its stake in shares of 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 acquiring an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 63.71% of the company’s stock.
Wall Street Analyst Weigh In
BGS has been the topic of several recent research reports. Credit Suisse Group reduced their target price on shares of B&G Foods from $14.50 to $12.50 and set an “underperform” rating on the stock in a report on Thursday, November 10th. Consumer Edge downgraded B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 price objective on the stock. in a report on Thursday, December 1st. BMO Capital Markets dropped their target price on B&G Foods from $21.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, November 10th. StockNews.com started coverage on B&G Foods in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Finally, Royal Bank of Canada lowered their price objective on B&G Foods from $24.00 to $16.00 and set a “sector perform” rating for the company in a research report on Friday, November 11th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.70.
B&G Foods Stock Up 0.4 %
B&G Foods (NYSE:BGS – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. B&G Foods had a negative net margin of 1.92% and a positive return on equity of 8.55%. The company had revenue of $528.40 million for the quarter, compared to the consensus estimate of $531.32 million. As a group, equities research analysts anticipate that B&G Foods, Inc. will post 0.96 EPS for the current fiscal year.
B&G Foods Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.76 annualized dividend and a dividend yield of 5.39%. B&G Foods’s payout ratio is -135.71%.
Insider Buying and Selling
In related news, Director David L. Wenner acquired 20,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were purchased at an average price of $14.01 per share, with a total value of $280,200.00. Following the completion of the purchase, the director now directly owns 760,392 shares of the company’s stock, valued at $10,653,091.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.
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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