ProShare Advisors LLC acquired a new stake in B&G Foods, Inc. (NYSE:BGS – Get Rating) in the 4th quarter, Holdings Channel reports. The firm acquired 11,196 shares of the company’s stock, valued at approximately $125,000.
Several other hedge funds have also recently bought and sold shares of BGS. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in B&G Foods by 18.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,715 shares of the company’s stock valued at $108,000 after buying an additional 1,489 shares during the last quarter. CWM LLC grew its holdings in B&G Foods by 26.5% during the 4th quarter. CWM LLC now owns 4,025 shares of the company’s stock valued at $45,000 after buying an additional 842 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in B&G Foods by 11.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 137,154 shares of the company’s stock valued at $1,529,000 after buying an additional 14,371 shares during the last quarter. Triumph Capital Management boosted its holdings in shares of B&G Foods by 229.0% during the fourth quarter. Triumph Capital Management now owns 99,752 shares of the company’s stock worth $1,112,000 after purchasing an additional 69,431 shares during the last quarter. Finally, AE Wealth Management LLC boosted its holdings in shares of B&G Foods by 86.6% during the fourth quarter. AE Wealth Management LLC now owns 83,133 shares of the company’s stock worth $927,000 after purchasing an additional 38,574 shares during the last quarter. 63.71% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at B&G Foods
In other news, CFO Bruce C. Wacha sold 12,500 shares of B&G Foods stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $14.81, for a total transaction of $185,125.00. Following the sale, the chief financial officer now directly owns 46,491 shares of the company’s stock, valued at $688,531.71. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Corporate insiders own 2.80% of the company’s stock.
Analysts Set New Price Targets
Several equity research analysts have recently issued reports on BGS shares. StockNews.com started coverage on B&G Foods in a report on Thursday, March 16th. They set a “sell” rating on the stock. TheStreet upgraded B&G Foods from a “d+” rating to a “c-” rating in a report on Friday, March 24th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.70.
B&G Foods Trading Down 2.5 %
Shares of BGS opened at $15.49 on Monday. The stock’s fifty day simple moving average is $15.32 and its 200 day simple moving average is $14.04. The company has a current ratio of 3.75, a quick ratio of 1.08 and a debt-to-equity ratio of 2.70. B&G Foods, Inc. has a twelve month low of $10.91 and a twelve month high of $26.33. The firm has a market capitalization of $1.11 billion, a P/E ratio of -35.20 and a beta of 0.45.
B&G Foods (NYSE:BGS – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. B&G Foods had a positive return on equity of 8.54% and a negative net margin of 1.48%. The company had revenue of $511.81 million for the quarter, compared to analyst estimates of $528.18 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. On average, equity research analysts forecast that B&G Foods, Inc. will post 1.02 earnings per share for the current year.
B&G Foods Announces Dividends
The firm also recently announced a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Friday, March 31st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend was Thursday, March 30th. B&G Foods’s payout ratio is -172.73%.
B&G Foods Company Profile
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B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the US, 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 and wine vinegar.
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