Comerica Bank Boosts Position in B&G Foods, Inc. $BGS

Comerica Bank lifted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,136 shares of the company’s stock after acquiring an additional 5,082 shares during the period. Comerica Bank owned 0.10% of B&G Foods worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of B&G Foods by 3,217.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company’s stock worth $35,000 after acquiring an additional 4,891 shares during the period. Signaturefd LLC raised its holdings in shares of B&G Foods by 930.2% during the 1st quarter. Signaturefd LLC now owns 6,748 shares of the company’s stock worth $46,000 after acquiring an additional 6,093 shares during the period. CWM LLC raised its holdings in shares of B&G Foods by 61.2% during the 1st quarter. CWM LLC now owns 7,518 shares of the company’s stock worth $52,000 after acquiring an additional 2,855 shares during the period. Sigma Planning Corp purchased a new position in shares of B&G Foods during the 1st quarter worth $69,000. Finally, Teacher Retirement System of Texas purchased a new stake in B&G Foods in the 1st quarter valued at about $80,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Up 0.3%

Shares of NYSE:BGS opened at $4.67 on Monday. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89. The firm has a market capitalization of $373.20 million, a PE ratio of -1.65 and a beta of 0.46. The firm’s 50-day moving average is $4.32 and its two-hundred day moving average is $5.26. B&G Foods, Inc. has a 1 year low of $3.67 and a 1 year high of $9.44.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $424.43 million for the quarter, compared to analysts’ expectations of $427.80 million. B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%.The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 16.3%. The ex-dividend date is Tuesday, September 30th. B&G Foods’s dividend payout ratio is presently -26.86%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BGS. Barclays decreased their target price on shares of B&G Foods from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 15th. Royal Bank Of Canada decreased their target price on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $6.10.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.