Peregrine Capital Management LLC Buys 2,692 Shares of B&G Foods, Inc. (NYSE:BGS)

Peregrine Capital Management LLC lifted its stake in B&G Foods, Inc. (NYSE:BGS) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,156 shares of the company’s stock after buying an additional 2,692 shares during the quarter. Peregrine Capital Management LLC owned about 0.29% of B&G Foods worth $4,587,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC raised its stake in shares of B&G Foods by 674.4% in the first quarter. Lindbrook Capital LLC now owns 1,541 shares of the company’s stock worth $28,000 after buying an additional 1,342 shares during the period. Parallel Advisors LLC raised its stake in B&G Foods by 1,414.1% during the 1st quarter. Parallel Advisors LLC now owns 2,044 shares of the company’s stock valued at $36,000 after purchasing an additional 1,909 shares during the period. Versant Capital Management Inc raised its stake in B&G Foods by 281.2% during the 1st quarter. Versant Capital Management Inc now owns 2,192 shares of the company’s stock valued at $39,000 after purchasing an additional 1,617 shares during the period. Ameritas Investment Company LLC raised its stake in B&G Foods by 4,047.2% during the 1st quarter. Ameritas Investment Company LLC now owns 2,198 shares of the company’s stock valued at $39,000 after purchasing an additional 2,145 shares during the period. Finally, Citizens Financial Group Inc RI raised its stake in B&G Foods by 90.8% during the 1st quarter. Citizens Financial Group Inc RI now owns 2,702 shares of the company’s stock valued at $49,000 after purchasing an additional 1,286 shares during the period. 75.60% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. Seaport Global Securities assumed coverage on B&G Foods in a research note on Tuesday, July 28th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded B&G Foods from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a research note on Friday. DA Davidson assumed coverage on B&G Foods in a research note on Thursday, June 11th. They set a “neutral” rating on the stock. Credit Suisse Group lifted their target price on B&G Foods from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Piper Sandler upgraded B&G Foods from a “neutral” rating to an “overweight” rating and raised their price target for the company from $21.00 to $28.00 in a report on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $21.67.

NYSE BGS opened at $28.91 on Friday. The stock has a market capitalization of $1.85 billion, a PE ratio of 16.24 and a beta of 0.24. The business has a 50 day simple moving average of $24.98 and a two-hundred day simple moving average of $19.73. The company has a debt-to-equity ratio of 2.52, a current ratio of 3.69 and a quick ratio of 1.78. B&G Foods, Inc. has a 1-year low of $10.39 and a 1-year high of $29.65.

B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, July 30th. The company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.10. The firm had revenue of $512.54 million during the quarter, compared to analysts’ expectations of $509.57 million. B&G Foods had a return on equity of 15.65% and a net margin of 6.22%. On average, analysts anticipate that B&G Foods, Inc. will post 2.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend is Tuesday, September 29th. B&G Foods’s dividend payout ratio (DPR) is 115.85%.

B&G Foods Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.

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Institutional Ownership by Quarter for B&G Foods (NYSE:BGS)

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