Russell Investments Group Ltd. Reduces Holdings in B&G Foods, Inc. (BGS)

Russell Investments Group Ltd. lowered its stake in B&G Foods, Inc. (NYSE:BGS) by 13.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,300 shares of the company’s stock after selling 35,058 shares during the quarter. Russell Investments Group Ltd.’s holdings in B&G Foods were worth $6,104,000 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. Ridgewood Investments LLC bought a new position in shares of B&G Foods in the second quarter worth about $226,000. Advisors Asset Management Inc. raised its stake in shares of B&G Foods by 3.1% in the second quarter. Advisors Asset Management Inc. now owns 778,434 shares of the company’s stock worth $23,275,000 after buying an additional 23,557 shares during the period. Laurion Capital Management LP bought a new position in shares of B&G Foods in the second quarter worth about $991,000. Schwab Charles Investment Management Inc. raised its stake in shares of B&G Foods by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 664,195 shares of the company’s stock worth $19,860,000 after buying an additional 55,197 shares during the period. Finally, grace capital raised its stake in shares of B&G Foods by 88.8% in the second quarter. grace capital now owns 19,010 shares of the company’s stock worth $568,000 after buying an additional 8,940 shares during the period. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on BGS. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $39.00 price objective on shares of B&G Foods in a research note on Friday, August 3rd. ValuEngine raised B&G Foods from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Credit Suisse Group raised their price objective on B&G Foods from $21.00 to $23.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 31st. Finally, Citigroup decreased their price objective on B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $34.22.

Shares of BGS opened at $30.11 on Friday. The company has a market cap of $1.99 billion, a P/E ratio of 14.20 and a beta of 0.52. B&G Foods, Inc. has a 12-month low of $22.00 and a 12-month high of $39.75. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.79 and a current ratio of 1.61.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $422.60 million for the quarter, compared to the consensus estimate of $429.53 million. B&G Foods had a return on equity of 16.01% and a net margin of 11.09%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. On average, equities analysts expect that B&G Foods, Inc. will post 2.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Monday, December 31st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend is Friday, December 28th. B&G Foods’s dividend payout ratio (DPR) is presently 89.62%.

In related news, Director Cheryl M. Palmer sold 12,000 shares of B&G Foods stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $29.52, for a total transaction of $354,240.00. Following the sale, the director now owns 12,839 shares of the company’s stock, valued at approximately $379,007.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.

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About B&G Foods

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, 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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