Capstone Investment Advisors LLC Grows Position in B&G Foods, Inc. (NYSE:BGS)

Capstone Investment Advisors LLC lifted its position in B&G Foods, Inc. (NYSE:BGSFree Report) by 97.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 27,325 shares of the company’s stock after purchasing an additional 13,462 shares during the period. Capstone Investment Advisors LLC’s holdings in B&G Foods were worth $313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of B&G Foods by 6.4% during the first quarter. Janney Montgomery Scott LLC now owns 261,106 shares of the company’s stock valued at $2,987,000 after purchasing an additional 15,672 shares in the last quarter. BNP Paribas Financial Markets increased its stake in B&G Foods by 97.9% during the 1st quarter. BNP Paribas Financial Markets now owns 38,965 shares of the company’s stock valued at $446,000 after purchasing an additional 19,277 shares in the last quarter. PFG Investments LLC purchased a new position in B&G Foods in the first quarter worth about $229,000. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of B&G Foods by 13.8% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 46,468 shares of the company’s stock worth $532,000 after buying an additional 5,623 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in B&G Foods by 12.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 15,170 shares of the company’s stock valued at $174,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Down 1.8 %

B&G Foods stock opened at $7.68 on Wednesday. B&G Foods, Inc. has a one year low of $7.20 and a one year high of $15.15. The stock has a fifty day moving average of $9.08 and a 200 day moving average of $10.06. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.92 and a current ratio of 3.22. The stock has a market cap of $607.10 million, a PE ratio of -5.33 and a beta of 0.61.

B&G Foods (NYSE:BGSGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $475.22 million for the quarter, compared to analysts’ expectations of $480.93 million. B&G Foods had a negative net margin of 5.42% and a positive return on equity of 8.33%. B&G Foods’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. As a group, sell-side analysts predict that B&G Foods, Inc. will post 0.79 EPS for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Friday, June 28th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, June 28th. This represents a $0.76 annualized dividend and a yield of 9.90%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Analyst Upgrades and Downgrades

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

Read Our Latest Analysis on BGS

Insider Buying and Selling at B&G Foods

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

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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