B&G Foods, Inc. (BGS) Shares Sold by Birinyi Associates Inc.
Birinyi Associates Inc. reduced its stake in B&G Foods, Inc. (NYSE:BGS) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,300 shares of the company’s stock after selling 6,517 shares during the period. B&G Foods comprises 0.7% of Birinyi Associates Inc.’s portfolio, making the stock its 29th largest position. Birinyi Associates Inc. owned approximately 0.07% of B&G Foods worth $1,577,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in BGS. CT Mason increased its position in B&G Foods by 5.7% in the first quarter. CT Mason now owns 137,224 shares of the company’s stock valued at $5,523,000 after buying an additional 7,370 shares during the period. Tyers Asset Management LLC increased its position in B&G Foods by 3.7% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock valued at $108,000 after buying an additional 96 shares during the period. Stoneridge Investment Partners LLC bought a new position in B&G Foods during the first quarter valued at approximately $1,215,000. WASHINGTON TRUST Co increased its stake in B&G Foods by 1.0% in the first quarter. WASHINGTON TRUST Co now owns 154,418 shares of the company’s stock worth $6,215,000 after buying an additional 1,519 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in B&G Foods by 3.1% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 15,120 shares of the company’s stock worth $609,000 after buying an additional 450 shares during the last quarter. 94.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of B&G Foods, Inc. (NYSE BGS) opened at 30.85 on Tuesday. B&G Foods, Inc. has a 1-year low of $30.65 and a 1-year high of $50.81. The company’s 50-day moving average is $33.78 and its 200-day moving average is $39.02. The stock has a market cap of $2.05 billion, a P/E ratio of 20.24 and a beta of 0.09.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Equities analysts expect that B&G Foods, Inc. will post $2.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be paid a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date is Thursday, September 28th. B&G Foods’s payout ratio is currently 122.37%.
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A number of equities research analysts recently issued reports on BGS shares. Berenberg Bank started coverage on shares of B&G Foods in a research note on Tuesday, May 16th. They set a “hold” rating and a $43.50 price target on the stock. Zacks Investment Research raised shares of B&G Foods from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, June 19th. Credit Suisse Group downgraded shares of B&G Foods from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $47.00 to $42.00 in a research note on Thursday, May 18th. Barclays PLC decreased their price target on shares of B&G Foods from $46.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 8th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $45.00 price target on shares of B&G Foods in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.61.
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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