B&G Foods, Inc. (NYSE:BGS) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its position in B&G Foods, Inc. (NYSE:BGS) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,916 shares of the company’s stock after purchasing an additional 10,761 shares during the period. Public Sector Pension Investment Board owned about 0.22% of B&G Foods worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BGS. Innealta Capital LLC acquired a new stake in shares of B&G Foods in the 2nd quarter valued at approximately $33,000. nVerses Capital LLC acquired a new position in shares of B&G Foods during the 2nd quarter worth $33,000. Versant Capital Management Inc grew its stake in shares of B&G Foods by 36.9% during the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after purchasing an additional 1,555 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after purchasing an additional 4,624 shares during the period. Finally, LRI Investments LLC purchased a new stake in B&G Foods during the first quarter worth about $60,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BGS. Royal Bank of Canada reissued a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. Piper Sandler lowered their target price on B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays lowered their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Finally, Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, B&G Foods has a consensus rating of “Hold” and an average target price of $8.67.

B&G Foods Trading Up 0.4 %

Shares of BGS stock opened at $8.92 on Wednesday. The company has a market capitalization of $704.74 million, a price-to-earnings ratio of -6.19 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. The firm has a 50-day moving average price of $8.60 and a 200 day moving average price of $9.30. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $11.97.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. B&G Foods’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. Research analysts forecast that B&G Foods, Inc. will post 0.74 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 8.52%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Insiders Place Their Bets

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the transaction, the executive vice president now owns 66,095 shares of the company’s stock, valued at $550,571.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by corporate insiders.

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