Epoch Investment Partners Inc. increased its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 5.8% during the third quarter, HoldingsChannel.com reports. The fund owned 1,334,618 shares of the company’s stock after buying an additional 72,708 shares during the quarter. Epoch Investment Partners Inc.’s holdings in B&G Foods were worth $36,635,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. bought a new stake in B&G Foods during the second quarter worth $185,000. Cubist Systematic Strategies LLC bought a new stake in B&G Foods during the second quarter worth $205,000. First Allied Advisory Services Inc. bought a new stake in B&G Foods during the second quarter worth $216,000. Ridgewood Investments LLC bought a new stake in B&G Foods during the second quarter worth $226,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in B&G Foods during the second quarter worth $230,000. Institutional investors and hedge funds own 96.75% of the company’s stock.
Several analysts have issued reports on BGS shares. Citigroup lowered their target price on 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. Zacks Investment Research lowered B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. ValuEngine upgraded B&G Foods from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Finally, Credit Suisse Group boosted their target price on B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday, October 31st. Three equities research 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 stock currently has a consensus rating of “Hold” and an average price target of $34.22.
Shares of BGS opened at $29.82 on Friday. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 14.20 and a beta of 0.55. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.79 and a current ratio of 1.61. B&G Foods, Inc. has a 1 year low of $22.00 and a 1 year high of $37.05.
B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $422.60 million for the quarter, compared to analyst estimates of $429.53 million. B&G Foods had a return on equity of 16.01% and a net margin of 11.09%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Research analysts anticipate that B&G Foods, Inc. will post 2.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Monday, December 31st will be paid a $0.475 dividend. The ex-dividend date is Friday, December 28th. This represents a $1.90 annualized dividend and a dividend yield of 6.37%. B&G Foods’s payout ratio is presently 89.62%.
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.
Featured Story: What is a Market Correction?
Want to see what other hedge funds are holding BGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for B&G Foods, Inc. (NYSE:BGS).
Receive News & Ratings for B&G Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods and related companies with MarketBeat.com's FREE daily email newsletter.