Global X MANAGEMENT CO LLC Has $5.63 Million Stake in B&G Foods, Inc. (BGS)
Global X MANAGEMENT CO LLC lifted its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,675 shares of the company’s stock after buying an additional 5,801 shares during the quarter. Global X MANAGEMENT CO LLC owned about 0.27% of B&G Foods worth $5,627,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of B&G Foods by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 6,197,718 shares of the company’s stock worth $220,639,000 after buying an additional 64,109 shares during the period. Principal Financial Group Inc. grew its position in shares of B&G Foods by 14.3% during the 3rd quarter. Principal Financial Group Inc. now owns 4,937,045 shares of the company’s stock worth $157,244,000 after buying an additional 617,424 shares during the period. Royal Bank of Canada grew its position in shares of B&G Foods by 8.6% during the 2nd quarter. Royal Bank of Canada now owns 3,213,282 shares of the company’s stock worth $114,393,000 after buying an additional 253,685 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of B&G Foods by 13.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,665,423 shares of the company’s stock worth $84,894,000 after buying an additional 317,948 shares during the period. Finally, State Street Corp grew its position in shares of B&G Foods by 5.0% during the 2nd quarter. State Street Corp now owns 1,700,917 shares of the company’s stock worth $60,552,000 after buying an additional 80,695 shares during the period. Institutional investors own 91.17% of the company’s stock.
Several research analysts recently weighed in on the stock. Barclays PLC reduced their price objective on shares of B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 8th. BidaskClub lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BMO Capital Markets raised shares of B&G Foods from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th. Buckingham Research reduced their price objective on shares of B&G Foods from $43.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, August 4th. Finally, Credit Suisse Group set a $36.00 price target on shares of B&G Foods and gave the company a “hold” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.61.
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B&G Foods, Inc. (BGS) traded up $0.15 during midday trading on Monday, hitting $33.35. 1,474,800 shares of the stock were exchanged, compared to its average volume of 839,790. The company has a quick ratio of 1.06, a current ratio of 3.24 and a debt-to-equity ratio of 2.34. B&G Foods, Inc. has a 12 month low of $29.50 and a 12 month high of $47.75. The firm has a market capitalization of $2,217.65, a P/E ratio of 18.22 and a beta of 0.11.
B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.08. The business had revenue of $408.40 million for the quarter, compared to the consensus estimate of $391.31 million. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. sell-side analysts predict that B&G Foods, Inc. will post 2.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be issued a dividend of $0.465 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.86 dividend on an annualized basis and a yield of 5.58%. B&G Foods’s payout ratio is 123.18%.
B&G Foods Profile
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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