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Commerce Bank Has $180,000 Stock Position in B&G Foods, Inc. (NYSE:BGS)

Defense World · Feb 4, 2023 07:11

Commerce Bank boosted its holdings in shares of B&G Foods, Inc. (NYSE:BGS – Get Rating) by 8.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,953 shares of the company's stock after buying an additional 818 shares during the period. Commerce Bank's holdings in B&G Foods were worth $180,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its stake in B&G Foods by 348.2% during the third quarter. Global Retirement Partners LLC now owns 2,250 shares of the company's stock worth $37,000 after buying an additional 1,748 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in B&G Foods during the second quarter worth $38,000. CNB Bank acquired a new stake in B&G Foods during the second quarter worth $52,000. CWM LLC boosted its stake in B&G Foods by 35.2% during the third quarter. CWM LLC now owns 3,183 shares of the company's stock worth $52,000 after buying an additional 829 shares in the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new stake in B&G Foods during the third quarter worth $55,000. Institutional investors and hedge funds own 63.71% of the company's stock.

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B&G Foods Stock Performance

Shares of NYSE:BGS opened at $14.23 on Friday. The stock has a market capitalization of $1.02 billion, a P/E ratio of -25.41 and a beta of 0.46. B&G Foods, Inc. has a 1-year low of $10.91 and a 1-year high of $31.66. 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 business has a 50-day moving average price of $12.88 and a two-hundred day moving average price of $16.81.

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

B&G Foods Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 30th. Stockholders of record on Friday, December 30th were paid a $0.19 dividend. The ex-dividend date was Thursday, December 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.34%. B&G Foods's dividend payout ratio (DPR) is presently -135.71%.

Insider Activity

In other B&G Foods news, Director David L. Wenner acquired 20,000 shares of the firm's stock in a transaction that occurred on Monday, November 14th. The stock was acquired at an average cost of $14.01 per share, for a total transaction of $280,200.00. Following the transaction, the director now owns 760,392 shares of the company's stock, valued at $10,653,091.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on BGS. Credit Suisse Group reduced their target price on shares of B&G Foods from $14.50 to $12.50 and set an "underperform" rating on the stock in a research note on Thursday, November 10th. 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. Consumer Edge downgraded shares of B&G Foods from an "equal weight" rating to an "underweight" rating and set a $9.00 target price on the stock. in a research note on Thursday, December 1st. Royal Bank of Canada reduced their target price on shares of B&G Foods from $24.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, November 11th. Finally, BMO Capital Markets reduced their target price 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. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, B&G Foods currently has a consensus rating of "Hold" and a consensus target price of $15.70.

B&G Foods Company Profile

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B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.