B. Riley Wealth Advisors Inc. lessened its stake in shares of B&G Foods, Inc. (NYSE:BGS – Free Report) by 10.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,946 shares of the company’s stock after selling 1,426 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in B&G Foods were worth $169,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of BGS. Mirae Asset Global Investments Co. Ltd. raised its stake in B&G Foods by 116.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,113,229 shares of the company’s stock valued at $17,288,000 after buying an additional 598,658 shares during the period. Marshall Wace LLP increased its stake in shares of B&G Foods by 505.5% during the fourth quarter. Marshall Wace LLP now owns 713,859 shares of the company’s stock worth $7,960,000 after purchasing an additional 595,968 shares during the period. Vanguard Group Inc. increased its stake in shares of B&G Foods by 5.6% during the third quarter. Vanguard Group Inc. now owns 8,543,629 shares of the company’s stock worth $140,884,000 after purchasing an additional 453,830 shares during the period. Norges Bank acquired a new stake in B&G Foods during the fourth quarter worth approximately $3,959,000. Finally, State Street Corp grew its position in B&G Foods by 8.5% during the second quarter. State Street Corp now owns 3,743,964 shares of the company’s stock worth $90,719,000 after buying an additional 293,363 shares in the last quarter. Institutional investors own 63.15% of the company’s stock.
B&G Foods Stock Up 1.5 %
Shares of NYSE:BGS opened at $8.38 on Wednesday. The firm has a market cap of $605.43 million, a P/E ratio of -28.88 and a beta of 0.51. The company has a quick ratio of 1.04, a current ratio of 3.96 and a debt-to-equity ratio of 2.59. B&G Foods, Inc. has a 12-month low of $7.20 and a 12-month high of $16.68. The business has a fifty day simple moving average of $10.41 and a 200 day simple moving average of $12.74.
B&G Foods Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Friday, September 29th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.07%. The ex-dividend date of this dividend is Thursday, September 28th. B&G Foods’s dividend payout ratio is currently -262.07%.
Analyst Ratings Changes
A number of brokerages recently issued reports on BGS. StockNews.com started coverage on B&G Foods in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Piper Sandler downgraded B&G Foods from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $14.00 to $8.00 in a report on Tuesday, October 3rd. Barclays reduced their target price on B&G Foods from $15.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, October 12th. Finally, TD Cowen reduced their target price on B&G Foods from $10.00 to $9.50 and set an “underperform” rating on the stock in a report on Tuesday, September 19th. Four analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.29.
Get Our Latest Analysis on B&G Foods
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. 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, cookies and crackers, corn starch, nut clusters, and other specialty products.
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