B&G Foods, Inc. (BGS) Holdings Reduced by Wellington Shields Capital Management LLC
Wellington Shields Capital Management LLC reduced its position in B&G Foods, Inc. (NYSE:BGS) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,220 shares of the company’s stock after selling 6,700 shares during the quarter. Wellington Shields Capital Management LLC owned about 0.17% of B&G Foods worth $3,702,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in BGS. Teachers Advisors LLC increased its holdings in B&G Foods by 3.9% in the 1st quarter. Teachers Advisors LLC now owns 112,951 shares of the company’s stock valued at $4,546,000 after buying an additional 4,204 shares during the period. KCG Holdings Inc. increased its holdings in B&G Foods by 54.2% in the 1st quarter. KCG Holdings Inc. now owns 7,454 shares of the company’s stock valued at $300,000 after buying an additional 2,620 shares during the period. State Street Corp increased its holdings in B&G Foods by 7.7% in the 1st quarter. State Street Corp now owns 1,620,222 shares of the company’s stock valued at $65,210,000 after buying an additional 115,229 shares during the period. Bank of Montreal Can increased its holdings in B&G Foods by 4.4% in the 2nd quarter. Bank of Montreal Can now owns 5,000 shares of the company’s stock valued at $178,000 after buying an additional 211 shares during the period. Finally, Creative Planning increased its holdings in B&G Foods by 11.5% in the 2nd quarter. Creative Planning now owns 9,621 shares of the company’s stock valued at $343,000 after buying an additional 995 shares during the period. 91.17% of the stock is currently owned by hedge funds and other institutional investors.
B&G Foods, Inc. (NYSE BGS) traded up $0.43 on Tuesday, hitting $33.98. 261,679 shares of the stock were exchanged, compared to its average volume of 839,719. B&G Foods, Inc. has a one year low of $29.50 and a one year high of $47.75. The company has a current ratio of 3.24, a quick ratio of 1.06 and a debt-to-equity ratio of 2.34. The firm has a market cap of $2,217.65, a P/E ratio of 18.22 and a beta of 0.11.
B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.08. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The company had revenue of $408.40 million for the quarter, compared to the consensus estimate of $391.31 million. During the same period last year, the company posted $0.56 EPS. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. equities analysts predict 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.47%. B&G Foods’s payout ratio is currently 123.18%.
Several research firms have commented on BGS. Barclays PLC decreased their target price on shares of B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 8th. BidaskClub lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BMO Capital Markets raised shares of B&G Foods from a “market perform” rating to an “outperform” rating in a report on Monday, August 7th. Buckingham Research decreased their target price on shares of B&G Foods from $43.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, August 4th. Finally, Credit Suisse Group set a $36.00 price target on shares of B&G Foods and gave the company a “hold” rating in a research note on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $40.61.
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.
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