Americafirst Capital Management LLC bought a new position in shares of B&G Foods, Inc. (NYSE:BGS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,508 shares of the company’s stock, valued at approximately $1,228,000. B&G Foods makes up approximately 1.5% of Americafirst Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Americafirst Capital Management LLC owned about 0.05% of B&G Foods as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its holdings in B&G Foods by 5.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,516 shares of the company’s stock valued at $517,000 after purchasing an additional 715 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in B&G Foods in the 2nd quarter valued at about $647,000. State Street Corp boosted its holdings in B&G Foods by 5.0% in the 2nd quarter. State Street Corp now owns 1,700,917 shares of the company’s stock valued at $60,552,000 after purchasing an additional 80,695 shares during the last quarter. Clear Perspective Advisors LLC boosted its holdings in B&G Foods by 140.0% in the 2nd quarter. Clear Perspective Advisors LLC now owns 14,400 shares of the company’s stock valued at $513,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Shelton Capital Management acquired a new position in B&G Foods in the 2nd quarter valued at about $235,000. 90.41% of the stock is owned by institutional investors and hedge funds.
B&G Foods, Inc. (NYSE BGS) remained flat at $32.55 on Friday. 62,029 shares of the company’s stock traded hands. The firm has a market cap of $2.16 billion, a PE ratio of 21.36 and a beta of 0.11. The company’s 50-day moving average price is $31.39 and its 200 day moving average price is $36.21. B&G Foods, Inc. has a 52 week low of $29.50 and a 52 week high of $49.15.
B&G Foods (NYSE:BGS) last released its earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The business had revenue of $368.10 million for the quarter, compared to the consensus estimate of $376.45 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts forecast that B&G Foods, Inc. will post $2.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be given a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.86 annualized dividend and a dividend yield of 5.71%. B&G Foods’s dividend payout ratio is currently 122.37%.
BGS has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Citigroup Inc. upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, July 20th. BidaskClub upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada restated a “buy” rating and issued a $52.00 price objective on shares of B&G Foods in a report on Tuesday, July 18th. Finally, BMO Capital Markets decreased their price objective on shares of B&G Foods from $45.00 to $39.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.50.
B&G Foods Profile
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, 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, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products.
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