Ameriprise Financial Inc. reduced its stake in B&G Foods, Inc. (NYSE:BGS) by 59.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,279 shares of the company’s stock after selling 583,819 shares during the period. Ameriprise Financial Inc. owned 0.61% of B&G Foods worth $12,879,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Acrospire Investment Management LLC raised its position in B&G Foods by 934.9% in the second quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock worth $102,000 after acquiring an additional 2,599 shares in the last quarter. Riverhead Capital Management LLC raised its position in B&G Foods by 61.2% in the second quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock worth $109,000 after acquiring an additional 1,162 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in B&G Foods by 19.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,958 shares of the company’s stock worth $141,000 after acquiring an additional 648 shares in the last quarter. Sei Investments Co. raised its position in B&G Foods by 298.9% in the third quarter. Sei Investments Co. now owns 4,033 shares of the company’s stock worth $128,000 after acquiring an additional 3,022 shares in the last quarter. Finally, Bank of Montreal Can raised its position in 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 in the last quarter. Institutional investors own 94.13% of the company’s stock.

A number of brokerages have recently weighed in on BGS. Zacks Investment Research cut B&G Foods from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Berenberg Bank upgraded B&G Foods from a “hold” rating to a “buy” rating and dropped their price target for the company from $43.50 to $40.00 in a research report on Thursday, November 16th. Stephens upgraded B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a research report on Wednesday, November 1st. Finally, Buckingham Research upgraded B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report 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. The company currently has an average rating of “Hold” and a consensus price target of $40.22.

B&G Foods, Inc. (NYSE:BGS) opened at $34.05 on Monday. The firm has a market capitalization of $2,264.19, a PE ratio of 18.61 and a beta of 0.18. B&G Foods, Inc. has a 52 week low of $29.50 and a 52 week high of $47.75. The company has a quick ratio of 1.06, a current ratio of 3.24 and a debt-to-equity ratio of 2.34.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.08. The business had revenue of $408.40 million for 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 company’s revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. sell-side analysts anticipate that B&G Foods, Inc. will post 2.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 5.46%. The ex-dividend date is Thursday, December 28th. B&G Foods’s dividend payout ratio (DPR) is presently 123.18%.

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About B&G Foods

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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