B&G Foods, Inc. (NYSE:BGS) Shares Acquired by Inlet Private Wealth LLC

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Inlet Private Wealth LLC increased its position in B&G Foods, Inc. (NYSE:BGS) by 13.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,950 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Inlet Private Wealth LLC’s holdings in B&G Foods were worth $693,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BGS. Steward Partners Investment Advisory LLC raised its position in B&G Foods by 694.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,144 shares of the company’s stock valued at $28,000 after buying an additional 1,000 shares during the period. Ameritas Investment Company LLC raised its position in B&G Foods by 4,047.2% during the first quarter. Ameritas Investment Company LLC now owns 2,198 shares of the company’s stock valued at $39,000 after buying an additional 2,145 shares during the period. Macquarie Group Ltd. acquired a new position in B&G Foods during the second quarter valued at $49,000. Highlander Capital Management LLC acquired a new position in B&G Foods during the first quarter valued at $67,000. Finally, Point72 Hong Kong Ltd raised its position in B&G Foods by 6,576.2% during the second quarter. Point72 Hong Kong Ltd now owns 2,804 shares of the company’s stock valued at $68,000 after buying an additional 2,762 shares during the period. Institutional investors and hedge funds own 75.48% of the company’s stock.

BGS has been the topic of several recent analyst reports. Zacks Investment Research lowered B&G Foods from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a research report on Friday, July 31st. ValuEngine lowered B&G Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, September 16th. Seaport Global Securities started coverage on B&G Foods in a research report on Tuesday, July 28th. They issued a “neutral” rating on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $27.00 target price on shares of B&G Foods in a research report on Thursday, July 30th. Finally, Jefferies Financial Group upped their target price on B&G Foods from $19.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. B&G Foods currently has an average rating of “Hold” and a consensus price target of $21.67.

Shares of BGS traded down $0.85 during midday trading on Friday, hitting $28.53. The stock had a trading volume of 697,488 shares, compared to its average volume of 1,402,444. The company has a 50 day simple moving average of $28.55 and a two-hundred day simple moving average of $24.94. B&G Foods, Inc. has a twelve month low of $10.39 and a twelve month high of $31.93. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 16.03 and a beta of 0.48. The company has a debt-to-equity ratio of 2.29, a current ratio of 3.12 and a quick ratio of 1.57.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.10. The firm had revenue of $512.54 million for the quarter, compared to the consensus estimate of $509.57 million. B&G Foods had a return on equity of 15.65% and a net margin of 6.22%. Analysts forecast that B&G Foods, Inc. will post 2.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.475 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.90 dividend on an annualized basis and a yield of 6.66%. B&G Foods’s payout ratio is 115.85%.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

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

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