Schaper Benz & Wise Investment Counsel Inc. WI lowered its stake in shares of B&G Foods, Inc. (NYSE:BGS – Get Rating) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,663 shares of the company’s stock after selling 3,900 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI owned approximately 0.10% of B&G Foods worth $1,926,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. National Asset Management Inc. grew its position in B&G Foods by 13.9% in the 4th quarter. National Asset Management Inc. now owns 114,648 shares of the company’s stock worth $3,524,000 after purchasing an additional 14,021 shares in the last quarter. Credit Suisse AG grew its position in B&G Foods by 11.8% in the 3rd quarter. Credit Suisse AG now owns 107,388 shares of the company’s stock worth $3,209,000 after purchasing an additional 11,333 shares in the last quarter. IndexIQ Advisors LLC grew its position in B&G Foods by 269.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 947 shares of the company’s stock worth $28,000 after purchasing an additional 691 shares in the last quarter. Cetera Investment Advisers grew its position in B&G Foods by 8.6% in the 3rd quarter. Cetera Investment Advisers now owns 23,357 shares of the company’s stock worth $698,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in B&G Foods by 4.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 15,273 shares of the company’s stock worth $469,000 after purchasing an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 64.72% of the company’s stock.
A number of research analysts have recently weighed in on BGS shares. Zacks Investment Research raised shares of B&G Foods from a “sell” rating to a “hold” rating and set a $28.00 target price for the company in a research report on Wednesday, May 4th. Credit Suisse Group reduced their target price on shares of B&G Foods from $27.00 to $26.00 and set an “underperform” rating for the company in a research report on Wednesday, March 2nd. BMO Capital Markets reduced their target price on shares of B&G Foods from $36.00 to $32.00 in a research report on Wednesday, March 2nd. Finally, StockNews.com downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Monday, May 9th.
B&G Foods (NYSE:BGS – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). B&G Foods had a return on equity of 12.91% and a net margin of 3.08%. The firm had revenue of $532.41 million during the quarter, compared to analysts’ expectations of $512.02 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that B&G Foods, Inc. will post 1.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Thursday, March 31st were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend was Wednesday, March 30th. B&G Foods’s dividend payout ratio (DPR) is currently 195.88%.
B&G Foods Profile (Get Rating)
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.
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