Bank of New York Mellon Corp cut its position in shares of B&G Foods, Inc. (NYSE:BGS) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 964,774 shares of the company’s stock after selling 80,621 shares during the quarter. Bank of New York Mellon Corp owned 1.45% of B&G Foods worth $30,727,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in shares of B&G Foods by 4.4% in the second quarter. Bank of Montreal Can now owns 5,000 shares of the company’s stock worth $178,000 after acquiring an additional 211 shares during the last quarter. Aperio Group LLC raised its holdings in shares of B&G Foods by 48.2% in the second quarter. Aperio Group LLC now owns 25,318 shares of the company’s stock worth $901,000 after acquiring an additional 8,229 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of B&G Foods by 4,241.7% in the second quarter. Russell Investments Group Ltd. now owns 336,309 shares of the company’s stock worth $11,973,000 after acquiring an additional 328,563 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of B&G Foods by 17.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 21,160 shares of the company’s stock worth $754,000 after acquiring an additional 3,090 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of B&G Foods by 3.6% in the second quarter. Great West Life Assurance Co. Can now owns 97,089 shares of the company’s stock worth $3,451,000 after acquiring an additional 3,392 shares during the last quarter. 94.13% of the stock is owned by hedge funds and other institutional investors.

B&G Foods, Inc. (BGS) opened at $33.50 on Monday. The company has a market capitalization of $2,227.63, a price-to-earnings ratio of 18.31 and a beta of 0.18. B&G Foods, Inc. has a 12 month low of $29.50 and a 12 month high of $47.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 3.24 and a quick ratio of 1.06.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, October 31st. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.08. The firm had revenue of $408.40 million during the quarter, compared to analyst estimates of $391.31 million. B&G Foods had a return on equity of 15.50% and a net margin of 6.29%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. equities analysts predict that B&G Foods, Inc. will post 2.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be paid a $0.465 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.86 annualized dividend and a yield of 5.55%. B&G Foods’s payout ratio is currently 123.18%.

A number of equities analysts have recently weighed in on BGS shares. Berenberg Bank raised B&G Foods from a “hold” rating to a “buy” rating and cut their price target for the stock from $43.50 to $40.00 in a report on Thursday, November 16th. Zacks Investment Research raised B&G Foods from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, October 17th. Stephens upgraded B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 target price for the company in a research note on Wednesday, November 1st. Finally, Buckingham Research upgraded B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. B&G Foods has an average rating of “Hold” and a consensus price target of $40.22.

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B&G Foods 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.

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

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