Bank of Montreal Can bought a new stake in B&G Foods, Inc. (NYSE:BGS – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 86,101 shares of the company’s stock, valued at approximately $1,199,000. Bank of Montreal Can owned 0.12% of B&G Foods at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of BGS. Fifth Third Bancorp grew its position in B&G Foods by 203.4% in the 1st quarter. Fifth Third Bancorp now owns 1,702 shares of the company’s stock valued at $26,000 after buying an additional 1,141 shares during the last quarter. Tower Research Capital LLC TRC grew its position in B&G Foods by 124.9% in the 1st 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. Nomura Asset Management Co. Ltd. grew its position in B&G Foods by 117.4% in the 1st 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 B&G Foods in the 1st quarter valued at $33,000. Finally, Steward Partners Investment Advisory LLC grew its position in B&G Foods by 818.7% in the 1st 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. 63.15% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BGS has been the topic of a number of analyst reports. TD Cowen lowered their price objective on shares of B&G Foods from $10.00 to $9.50 and set an “underperform” rating on the stock in a research report on Tuesday, September 19th. Piper Sandler cut shares of B&G Foods from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $14.00 to $8.00 in a research note on Tuesday, October 3rd. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday. TheStreet cut shares of B&G Foods from a “c-” rating to a “d+” rating in a research note on Wednesday. Finally, Barclays lowered their price target on shares of B&G Foods from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 12th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to MarketBeat, B&G Foods currently has a consensus rating of “Reduce” and an average target price of $9.13.
B&G Foods Price Performance
Shares of NYSE BGS opened at $8.32 on Friday. The stock has a market cap of $601.47 million, a price-to-earnings ratio of -14.60 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 company’s 50-day moving average price is $9.40 and its 200 day moving average price is $12.12. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 2.30.
B&G Foods (NYSE:BGS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $502.73 million for the quarter, compared to analysts’ expectations of $505.34 million. B&G Foods had a negative net margin of 2.11% and a positive return on equity of 9.23%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. As a group, research analysts forecast that B&G Foods, Inc. will post 1 earnings per share for the current fiscal year.
B&G Foods Company 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, cookies and crackers, corn starch, nut clusters, and other specialty products.
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