Stoneridge Investment Partners LLC decreased its stake in B&G Foods, Inc. (NYSE:BGS) by 80.0% during the second quarter, Holdings Channel reports. The firm owned 6,029 shares of the company’s stock after selling 24,154 shares during the period. Stoneridge Investment Partners LLC’s holdings in B&G Foods were worth $215,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of B&G Foods by 134,853.6% in the first quarter. BlackRock Inc. now owns 7,858,346 shares of the company’s stock valued at $316,296,000 after buying an additional 7,852,523 shares during the period. Vanguard Group Inc. raised its stake in shares of B&G Foods by 3.9% in the first quarter. Vanguard Group Inc. now owns 6,133,609 shares of the company’s stock valued at $246,879,000 after buying an additional 231,982 shares during the period. FMR LLC raised its stake in shares of B&G Foods by 12.9% in the first quarter. FMR LLC now owns 5,854,515 shares of the company’s stock valued at $235,645,000 after buying an additional 667,093 shares during the period. Edge Asset Management Inc. raised its stake in shares of B&G Foods by 14.4% in the first quarter. Edge Asset Management Inc. now owns 2,397,473 shares of the company’s stock valued at $96,499,000 after buying an additional 302,496 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of B&G Foods by 4.9% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,369,418 shares of the company’s stock valued at $95,369,000 after buying an additional 109,610 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods, Inc. (NYSE:BGS) opened at 32.60 on Friday. The firm’s 50-day moving average price is $34.98 and its 200 day moving average price is $39.94. B&G Foods, Inc. has a 52-week low of $30.95 and a 52-week high of $50.81. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 21.39 and a beta of 0.09.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, equities research analysts forecast that B&G Foods, Inc. will post $2.07 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date is Thursday, September 28th. B&G Foods’s payout ratio is 122.37%.

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BGS has been the topic of several research analyst reports. Berenberg Bank initiated coverage on B&G Foods in a research report on Tuesday, May 16th. They set a “hold” rating and a $43.50 target price on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $52.00 target price on shares of B&G Foods in a research report on Thursday, April 20th. Zacks Investment Research raised B&G Foods from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, June 19th. Credit Suisse Group lowered B&G Foods from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $47.00 to $42.00 in a research report on Thursday, May 18th. Finally, Barclays PLC cut their price target on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.17.

About B&G Foods

B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products.

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

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