Texas Permanent School Fund Buys 1,422 Shares of B&G Foods, Inc. (BGS)
Texas Permanent School Fund lifted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,568 shares of the company’s stock after acquiring an additional 1,422 shares during the quarter. Texas Permanent School Fund’s holdings in B&G Foods were worth $1,088,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. ERTS Wealth Advisors LLC bought a new position in shares of B&G Foods during the 4th quarter valued at approximately $54,000. Versant Capital Management Inc grew its stake in shares of B&G Foods by 124.9% during the 1st quarter. Versant Capital Management Inc now owns 2,092 shares of the company’s stock valued at $51,000 after acquiring an additional 1,162 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of B&G Foods by 218.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,169 shares of the company’s stock valued at $62,000 after acquiring an additional 1,488 shares during the period. Covington Capital Management bought a new position in shares of B&G Foods during the 4th quarter valued at approximately $94,000. Finally, Hanson & Doremus Investment Management grew its stake in shares of B&G Foods by 17.1% during the 4th quarter. Hanson & Doremus Investment Management now owns 3,387 shares of the company’s stock valued at $98,000 after acquiring an additional 495 shares during the period. Institutional investors own 96.56% of the company’s stock.
In other B&G Foods news, COO Kenneth G. Romanzi purchased 1,200 shares of the company’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $24.64 per share, for a total transaction of $29,568.00. Following the purchase, the chief operating officer now directly owns 1,200 shares of the company’s stock, valued at approximately $29,568. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.20% of the company’s stock.
B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). B&G Foods had a return on equity of 13.26% and a net margin of 10.03%. The business had revenue of $412.70 million during the quarter, compared to the consensus estimate of $406.04 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts expect that B&G Foods, Inc. will post 1.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Friday, June 28th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.90 annualized dividend and a yield of 8.66%. B&G Foods’s payout ratio is 102.70%.
A number of research analysts recently issued reports on BGS shares. Buckingham Research downgraded B&G Foods from a “buy” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $23.00 in a research note on Wednesday, February 27th. ValuEngine upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Citigroup dropped their price target on B&G Foods from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, February 27th. Finally, Barclays restated a “hold” rating and issued a $23.00 price target on shares of B&G Foods in a research note on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. B&G Foods has an average rating of “Hold” and an average target price of $28.72.
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B&G Foods Company 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, oatmeal and 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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