AMG National Trust Bank Boosts Holdings in B&G Foods, Inc. (NYSE:BGS)

AMG National Trust Bank boosted its position in B&G Foods, Inc. (NYSE:BGS) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,070 shares of the company’s stock after purchasing an additional 1,241 shares during the quarter. AMG National Trust Bank’s holdings in B&G Foods were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BGS. Assetmark Inc. lifted its stake in B&G Foods by 6,212,280.0% in the 2nd quarter. Assetmark Inc. now owns 1,553,095 shares of the company’s stock worth $32,304,000 after purchasing an additional 1,553,070 shares in the last quarter. SG Americas Securities LLC lifted its stake in B&G Foods by 375.1% in the 3rd quarter. SG Americas Securities LLC now owns 671,731 shares of the company’s stock worth $12,702,000 after purchasing an additional 530,350 shares in the last quarter. Vanguard Group Inc. lifted its stake in B&G Foods by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,697,600 shares of the company’s stock worth $160,109,000 after purchasing an additional 331,944 shares in the last quarter. Capital Management Corp VA purchased a new stake in B&G Foods in the 3rd quarter worth approximately $5,360,000. Finally, Morgan Stanley lifted its stake in B&G Foods by 57.9% in the 2nd quarter. Morgan Stanley now owns 754,141 shares of the company’s stock worth $15,685,000 after purchasing an additional 276,626 shares in the last quarter. Institutional investors and hedge funds own 97.33% of the company’s stock.

Several research firms have issued reports on BGS. Buckingham Research set a $17.00 target price on shares of B&G Foods and gave the stock a “hold” rating in a research note on Friday, November 1st. Credit Suisse Group lowered their target price on shares of B&G Foods from $19.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, August 30th. Barclays reiterated a “hold” rating and issued a $16.00 target price on shares of B&G Foods in a research note on Sunday, November 3rd. Piper Jaffray Companies set a $17.00 target price on shares of B&G Foods and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets lowered their target price on shares of B&G Foods to $20.00 and set a “market perform” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $22.31.

In related news, Director Deann L. Brunts acquired 2,483 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $18.98 per share, for a total transaction of $47,127.34. Following the transaction, the director now owns 22,272 shares in the company, valued at approximately $422,722.56. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

B&G Foods stock opened at $16.29 on Tuesday. The firm’s fifty day moving average price is $17.22 and its 200-day moving average price is $19.84. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.65 and a current ratio of 3.47. The stock has a market cap of $1.13 billion, a P/E ratio of 8.81 and a beta of 0.41. B&G Foods, Inc. has a fifty-two week low of $14.20 and a fifty-two week high of $31.60.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.03). The company had revenue of $406.30 million for the quarter, compared to analysts’ expectations of $405.65 million. B&G Foods had a net margin of 10.80% and a return on equity of 12.70%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. On average, analysts predict that B&G Foods, Inc. will post 1.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 11.66%. The ex-dividend date is Monday, December 30th. B&G Foods’s dividend payout ratio (DPR) is currently 102.70%.

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, 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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