Principal Financial Group Inc. cut its holdings in shares of B&G Foods, Inc. (NYSE:BGS – Free Report) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 373,072 shares of the company’s stock after selling 16,740 shares during the period. Principal Financial Group Inc.’s holdings in B&G Foods were worth $3,313,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of B&G Foods by 71.3% during the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after buying an additional 682,688 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in B&G Foods by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after acquiring an additional 485,714 shares in the last quarter. AQR Capital Management LLC raised its stake in B&G Foods by 154.0% during the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock worth $5,065,000 after acquiring an additional 380,054 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock worth $3,369,000 after acquiring an additional 368,799 shares during the last quarter. Finally, Savoir Faire Capital Management L.P. boosted its stake in shares of B&G Foods by 37.5% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock valued at $4,268,000 after purchasing an additional 144,146 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.
Insider Buying and Selling at B&G Foods
In other B&G Foods news, EVP Scott E. Lerner acquired 7,611 shares of the stock in a transaction dated Friday, November 8th. The stock was purchased at an average cost of $6.57 per share, with a total value of $50,004.27. Following the transaction, the executive vice president now owns 196,755 shares in the company, valued at approximately $1,292,680.35. The trade was a 4.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Eric H. Hart bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the transaction, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. This represents a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 90,111 shares of company stock valued at $593,054. 3.20% of the stock is currently owned by company insiders.
B&G Foods Price Performance
BGS stock opened at $7.10 on Friday. The company has a market capitalization of $562.06 million, a P/E ratio of -20.88 and a beta of 0.51. The company has a fifty day moving average price of $7.16 and a 200-day moving average price of $7.98. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. B&G Foods, Inc. has a 52-week low of $6.12 and a 52-week high of $11.97.
B&G Foods (NYSE:BGS – Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. During the same period in the prior year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities analysts expect that B&G Foods, Inc. will post 0.73 EPS for the current year.
B&G Foods Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.70%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is presently -223.53%.
Analysts Set New Price Targets
BGS has been the subject of a number of research analyst reports. Evercore ISI lowered their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. Barclays lowered their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, TD Cowen lowered their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.30.
Check Out Our Latest Analysis on BGS
B&G Foods Profile
(Free Report)
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company’s products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.
Further Reading
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