B&G Foods, Inc. (BGS) Shares Sold by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. cut its position in shares of B&G Foods, Inc. (NYSE:BGS) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,281 shares of the company’s stock after selling 344 shares during the quarter. First Allied Advisory Services Inc.’s holdings in B&G Foods were worth $257,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of B&G Foods by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 11,511 shares of the company’s stock valued at $410,000 after purchasing an additional 30 shares during the period. TNB Financial increased its position in shares of B&G Foods by 0.8% during the 2nd quarter. TNB Financial now owns 6,550 shares of the company’s stock valued at $233,000 after purchasing an additional 50 shares during the period. Pinebridge Investments L.P. increased its position in shares of B&G Foods by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 8,757 shares of the company’s stock valued at $312,000 after purchasing an additional 86 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of B&G Foods by 0.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 18,070 shares of the company’s stock valued at $727,000 after purchasing an additional 100 shares during the period. Finally, Telos Capital Management Inc. increased its position in shares of B&G Foods by 0.9% during the 2nd quarter. Telos Capital Management Inc. now owns 10,801 shares of the company’s stock valued at $385,000 after purchasing an additional 100 shares during the period. Institutional investors own 90.41% of the company’s stock.

Shares of B&G Foods, Inc. (NYSE:BGS) opened at 31.80 on Wednesday. The firm has a market cap of $2.11 billion, a PE ratio of 20.87 and a beta of 0.11. The company’s 50-day moving average price is $31.39 and its 200-day moving average price is $36.27. B&G Foods, Inc. has a 52-week low of $29.50 and a 52-week high of $49.15.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.06). B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The business had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Equities analysts expect that B&G Foods, Inc. will post $2.08 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.465 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.85%. B&G Foods’s dividend payout ratio is 122.37%.

Several equities research analysts have recently weighed in on the company. Barclays PLC reduced their price objective on B&G Foods from $46.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 8th. Zacks Investment Research lowered B&G Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Credit Suisse Group set a $36.00 price objective on B&G Foods and gave the stock a “hold” rating in a research note on Saturday, August 5th. BidaskClub raised B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets reduced their price objective on B&G Foods from $45.00 to $39.00 and set a “market perform” rating for the company in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.50.

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B&G Foods Company 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.

Institutional Ownership by Quarter for B&G Foods (NYSE:BGS)

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