Teacher Retirement System of Texas Takes Position in B&G Foods, Inc. (NYSE:BGS)

Teacher Retirement System of Texas acquired a new stake in B&G Foods, Inc. (NYSE:BGSFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 243,874 shares of the company’s stock, valued at approximately $2,561,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in B&G Foods during the 3rd quarter worth $104,000. Commonwealth Equity Services LLC increased its position in shares of B&G Foods by 1.6% in the third quarter. Commonwealth Equity Services LLC now owns 114,370 shares of the company’s stock worth $1,131,000 after purchasing an additional 1,765 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in B&G Foods by 35.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,166 shares of the company’s stock valued at $170,000 after purchasing an additional 4,517 shares in the last quarter. Inspire Investing LLC bought a new stake in B&G Foods during the third quarter worth about $220,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in B&G Foods during the third quarter worth about $440,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Trading Up 5.9 %

BGS opened at $9.05 on Thursday. The company has a fifty day moving average price of $10.81 and a two-hundred day moving average price of $10.25. B&G Foods, Inc. has a 1-year low of $7.20 and a 1-year high of $15.15. The company has a market cap of $715.01 million, a P/E ratio of -6.28 and a beta of 0.70. 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 (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 negative net margin of 5.42% and a positive return on equity of 8.33%. The firm had revenue of $475.22 million for the quarter, compared to the consensus estimate of $480.93 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. Analysts predict that B&G Foods, Inc. will post 0.81 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.40%. The ex-dividend date of this dividend was Wednesday, March 27th. B&G Foods’s dividend payout ratio is currently -52.78%.

Insider Buying and Selling

In other B&G Foods news, CFO Bruce C. Wacha bought 5,200 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $8.59 per share, for a total transaction of $44,668.00. Following the purchase, the chief financial officer now directly owns 91,328 shares of the company’s stock, valued at $784,507.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Stephen Sherrill purchased 125,000 shares of B&G Foods stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $8.59 per share, for a total transaction of $1,073,750.00. Following the completion of the transaction, the director now owns 270,136 shares in the company, valued at $2,320,468.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bruce C. Wacha acquired 5,200 shares of the stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $8.59 per share, for a total transaction of $44,668.00. Following the transaction, the chief financial officer now owns 91,328 shares of the company’s stock, valued at approximately $784,507.52. The disclosure for this purchase can be found here. Insiders have acquired 141,955 shares of company stock worth $1,218,453 in the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BGS. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Piper Sandler upped their price objective on B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $9.50.

View Our Latest Research Report on B&G Foods

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

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

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