Victory Capital Management Inc. trimmed its stake in shares of B&G Foods, Inc. (NYSE:BGS – Free Report) by 29.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,430 shares of the company’s stock after selling 10,859 shares during the quarter. Victory Capital Management Inc.’s holdings in B&G Foods were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. J.W. Cole Advisors Inc. bought a new position in shares of B&G Foods during the first quarter worth about $195,000. Bank of New York Mellon Corp increased its holdings in B&G Foods by 10.9% in the first quarter. Bank of New York Mellon Corp now owns 762,815 shares of the company’s stock worth $11,847,000 after purchasing an additional 75,094 shares in the last quarter. Factorial Partners LLC increased its holdings in B&G Foods by 2.7% in the first quarter. Factorial Partners LLC now owns 95,300 shares of the company’s stock worth $1,480,000 after purchasing an additional 2,500 shares in the last quarter. Ameritas Advisory Services LLC increased its holdings in B&G Foods by 3.9% in the first quarter. Ameritas Advisory Services LLC now owns 38,825 shares of the company’s stock worth $595,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Ethic Inc. bought a new stake in B&G Foods in the first quarter worth approximately $403,000. 63.15% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Barclays lowered their target price on B&G Foods from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, October 12th. TD Cowen lowered their target price on B&G Foods from $10.00 to $9.50 and set an “underperform” rating for the company in a report on Tuesday, September 19th. Piper Sandler downgraded B&G Foods from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $14.00 to $8.00 in a report on Tuesday, October 3rd. Finally, StockNews.com began coverage on B&G Foods in a report on Thursday, October 5th. They issued a “hold” rating for the company. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, B&G Foods has a consensus rating of “Hold” and an average price target of $11.29.
B&G Foods Trading Up 4.3 %
NYSE BGS opened at $9.01 on Friday. The company has a market cap of $651.33 million, a price-to-earnings ratio of -31.07 and a beta of 0.53. B&G Foods, Inc. has a 52 week low of $7.20 and a 52 week high of $16.68. The business has a 50 day moving average price of $9.80 and a 200-day moving average price of $12.35. The company has a quick ratio of 1.04, a current ratio of 3.96 and a debt-to-equity ratio of 2.59.
B&G Foods (NYSE:BGS – Get Free Report) last announced its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $469.64 million for the quarter, compared to analysts’ expectations of $461.03 million. B&G Foods had a positive return on equity of 9.43% and a negative net margin of 1.00%. As a group, equities analysts expect that B&G Foods, Inc. will post 0.98 earnings per share for the current fiscal year.
About B&G Foods
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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