B&G Foods, Inc. (BGS) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. lifted its position in B&G Foods, Inc. (NYSE:BGS) by 46.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,254 shares of the company’s stock after purchasing an additional 6,468 shares during the quarter. Victory Capital Management Inc.’s holdings in B&G Foods were worth $645,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in BGS. Tradition Capital Management LLC acquired a new stake in B&G Foods during the second quarter worth about $1,346,000. Brookstone Capital Management acquired a new stake in B&G Foods during the second quarter worth about $268,000. BNP Paribas Arbitrage SA grew its holdings in B&G Foods by 60.7% during the second quarter. BNP Paribas Arbitrage SA now owns 21,479 shares of the company’s stock worth $765,000 after acquiring an additional 8,113 shares during the period. Gilman Hill Asset Management LLC grew its holdings in B&G Foods by 4.0% during the third quarter. Gilman Hill Asset Management LLC now owns 140,960 shares of the company’s stock worth $4,490,000 after acquiring an additional 5,370 shares during the period. Finally, Biondo Investment Advisors LLC grew its holdings in B&G Foods by 20.4% during the second quarter. Biondo Investment Advisors LLC now owns 66,217 shares of the company’s stock worth $2,357,000 after acquiring an additional 11,222 shares during the period. Hedge funds and other institutional investors own 89.51% of the company’s stock.
BGS has been the topic of several analyst reports. Zacks Investment Research lowered B&G Foods from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Stephens raised B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective on the stock in a report on Wednesday, November 1st. BMO Capital Markets dropped their price objective on B&G Foods from $45.00 to $39.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. Buckingham Research raised B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, August 23rd. Finally, Berenberg Bank raised B&G Foods from a “hold” rating to a “buy” rating and dropped their price objective for the company from $43.50 to $40.00 in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $40.22.
B&G Foods, Inc. (NYSE:BGS) opened at $36.25 on Friday. The firm has a market capitalization of $2,410.48, a P/E ratio of 19.81 and a beta of 0.11. B&G Foods, Inc. has a 1 year low of $29.50 and a 1 year 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 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 the consensus estimate 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 quarter last year, the business posted $0.56 earnings per share. sell-side analysts expect that B&G Foods, Inc. will post 2.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be given a $0.465 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.86 annualized dividend and a dividend yield of 5.13%. B&G Foods’s dividend payout ratio (DPR) is presently 123.18%.
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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