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Capital Management Corp VA Buys 19,157 Shares of B&G Foods, Inc. (NYSE:BGS)

Financial News Live · Jan 12, 2023 13:11

Capital Management Corp VA increased its stake in B&G Foods, Inc. (NYSE:BGS – Get Rating) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,857 shares of the company's stock after buying an additional 19,157 shares during the period. B&G Foods accounts for 1.9% of Capital Management Corp VA's portfolio, making the stock its 25th largest position. Capital Management Corp VA's holdings in B&G Foods were worth $6,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in shares of B&G Foods by 8.5% in the 2nd quarter. State Street Corp now owns 3,743,964 shares of the company's stock worth $90,719,000 after acquiring an additional 293,363 shares in the last quarter. Victory Capital Management Inc. lifted its position in B&G Foods by 29.2% during the second quarter. Victory Capital Management Inc. now owns 1,032,272 shares of the company's stock valued at $24,547,000 after buying an additional 233,068 shares during the period. Altrius Capital Management Inc bought a new stake in shares of B&G Foods during the 2nd quarter valued at $3,781,000. Vanguard Group Inc. grew its position in shares of B&G Foods by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,548,293 shares of the company's stock worth $203,653,000 after buying an additional 132,095 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of B&G Foods by 1,772.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 122,516 shares of the company's stock worth $62,000 after acquiring an additional 115,974 shares in the last quarter. 63.71% of the stock is currently owned by hedge funds and other institutional investors.

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B&G Foods Stock Up 5.8 %

B&G Foods stock opened at $13.69 on Thursday. B&G Foods, Inc. has a 12 month low of $10.91 and a 12 month high of $34.27. The stock has a fifty day simple moving average of $12.86 and a two-hundred day simple moving average of $17.92. The company has a current ratio of 3.27, a quick ratio of 0.98 and a debt-to-equity ratio of 2.88. The firm has a market cap of $981.13 million, a price-to-earnings ratio of -24.45 and a beta of 0.36.

B&G Foods (NYSE:BGS – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. B&G Foods had a positive return on equity of 8.55% and a negative net margin of 1.92%. The company had revenue of $528.40 million for the quarter, compared to analysts' expectations of $531.32 million. Equities analysts predict that B&G Foods, Inc. will post 0.96 EPS for the current fiscal year.

B&G Foods Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.76 annualized dividend and a dividend yield of 5.55%. B&G Foods's payout ratio is -135.71%.

Insider Activity at B&G Foods

In related news, Director David L. Wenner bought 20,000 shares of the business's stock in a transaction on Monday, November 14th. The stock was acquired at an average price of $14.01 per share, with a total value of $280,200.00. Following the transaction, the director now owns 760,392 shares in the company, valued at approximately $10,653,091.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

BGS has been the topic of several research reports. BMO Capital Markets dropped their price objective on shares of B&G Foods from $21.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, November 10th. Credit Suisse Group reduced their price objective on B&G Foods from $14.50 to $12.50 and set an "underperform" rating for the company in a research report on Thursday, November 10th. Royal Bank of Canada lowered their price objective on B&G Foods from $24.00 to $16.00 and set a "sector perform" rating for the company in a research note on Friday, November 11th. Consumer Edge downgraded B&G Foods from an "equal weight" rating to an "underweight" rating and set a $9.00 price target for the company. in a report on Thursday, December 1st. Finally, StockNews.com began coverage on shares of B&G Foods in a research note on Wednesday, October 12th. They issued a "sell" rating on the stock. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.70.

B&G Foods Company Profile

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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. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, 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.