B&G Foods, Inc. (BGS) Holdings Trimmed by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC lowered its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,984 shares of the company’s stock after selling 4,524 shares during the period. Janney Montgomery Scott LLC’s holdings in B&G Foods were worth $1,894,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of BGS. Macquarie Group Ltd. purchased a new position in B&G Foods during the second quarter worth approximately $185,000. Cubist Systematic Strategies LLC purchased a new position in shares of B&G Foods in the 2nd quarter valued at $205,000. First Allied Advisory Services Inc. purchased a new position in shares of B&G Foods in the 2nd quarter valued at $216,000. Selway Asset Management purchased a new position in shares of B&G Foods in the 2nd quarter valued at $217,000. Finally, Ridgewood Investments LLC purchased a new position in shares of B&G Foods in the 2nd quarter valued at $226,000. 99.65% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised shares of B&G Foods from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 7th. Credit Suisse Group raised their target price on shares of B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday, October 31st. Citigroup cut their target price on shares of B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $39.00 target price on shares of B&G Foods in a research note on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $34.22.
BGS opened at $30.66 on Wednesday. The firm has a market cap of $1.99 billion, a P/E ratio of 14.46 and a beta of 0.52. B&G Foods, Inc. has a twelve month low of $22.00 and a twelve month high of $39.75. The company has a quick ratio of 0.79, a current ratio of 1.61 and a debt-to-equity ratio of 2.07.
B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The business had revenue of $422.60 million during the quarter, compared to analyst estimates of $429.53 million. B&G Foods had a net margin of 11.09% and a return on equity of 16.01%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. Equities analysts forecast that B&G Foods, Inc. will post 2.02 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Monday, December 31st will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Friday, December 28th. B&G Foods’s payout ratio is 89.62%.
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B&G Foods Profile
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in 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 vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.
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