Diversified Trust Co Reduces Position in B&G Foods, Inc. (NYSE:BGS)

Diversified Trust Co lessened its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 12.6% in the third quarter, HoldingsChannel.com reports. The firm owned 12,300 shares of the company’s stock after selling 1,775 shares during the quarter. Diversified Trust Co’s holdings in B&G Foods were worth $342,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its stake in shares of B&G Foods by 694.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,144 shares of the company’s stock valued at $28,000 after purchasing an additional 1,000 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of B&G Foods during the second quarter valued at approximately $49,000. Ameritas Investment Company LLC boosted its stake in shares of B&G Foods by 4,047.2% during the first quarter. Ameritas Investment Company LLC now owns 2,198 shares of the company’s stock valued at $39,000 after purchasing an additional 2,145 shares during the period. Hoey Investments Inc. purchased a new stake in shares of B&G Foods during the third quarter valued at approximately $76,000. Finally, Point72 Hong Kong Ltd boosted its stake in shares of B&G Foods by 6,576.2% during the second quarter. Point72 Hong Kong Ltd now owns 2,804 shares of the company’s stock valued at $68,000 after purchasing an additional 2,762 shares during the period. 75.48% of the stock is owned by hedge funds and other institutional investors.

BGS opened at $28.53 on Friday. The stock has a fifty day simple moving average of $28.55 and a two-hundred day simple moving average of $24.94. The company has a current ratio of 3.12, a quick ratio of 1.57 and a debt-to-equity ratio of 2.29. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 16.03 and a beta of 0.48. B&G Foods, Inc. has a 12-month low of $10.39 and a 12-month high of $31.93.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $512.54 million during the quarter, compared to the consensus estimate of $509.57 million. B&G Foods had a return on equity of 15.65% and a net margin of 6.22%. On average, analysts predict that B&G Foods, Inc. will post 2.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.475 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.90 annualized dividend and a dividend yield of 6.66%. B&G Foods’s payout ratio is presently 115.85%.

A number of analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $27.00 price target on shares of B&G Foods in a research note on Thursday, July 30th. Zacks Investment Research lowered B&G Foods from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research note on Friday, July 31st. Seaport Global Securities assumed coverage on B&G Foods in a research note on Tuesday, July 28th. They issued a “neutral” rating for the company. Jefferies Financial Group raised their price target on B&G Foods from $19.00 to $23.00 and gave the stock a “hold” rating in a research note on Monday, July 27th. Finally, ValuEngine lowered B&G Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. B&G Foods currently has an average rating of “Hold” and an average price target of $21.67.

B&G Foods Profile

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. 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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

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

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