Corient Private Wealth LP purchased a new stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 478,509 shares of the company's stock, valued at approximately $1,905,000. Corient Private Wealth LP owned approximately 0.59% of B&G Foods as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in B&G Foods by 502.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company's stock worth $31,000 after purchasing an additional 6,207 shares during the period. Legal & General Group Plc bought a new stake in B&G Foods during the 2nd quarter valued at $32,000. Triumph Capital Management purchased a new stake in shares of B&G Foods in the 3rd quarter worth $34,000. Federated Hermes Inc. purchased a new stake in shares of B&G Foods in the 2nd quarter worth $35,000. Finally, Versant Capital Management Inc grew its position in shares of B&G Foods by 38.5% during the 2nd quarter. Versant Capital Management Inc now owns 10,578 shares of the company's stock worth $42,000 after buying an additional 2,941 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company's stock.
B&G Foods Trading Down 2.3%
Shares of NYSE:BGS opened at $3.37 on Friday. The company has a market capitalization of $273.91 million, a PE ratio of -3.79 and a beta of 0.48. The company has a current ratio of 1.62, a quick ratio of 1.09 and a debt-to-equity ratio of 5.08. B&G Foods, Inc. has a 12-month low of $3.32 and a 12-month high of $6.38. The business's fifty day simple moving average is $3.66 and its 200-day simple moving average is $4.41.
B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. B&G Foods had a positive return on equity of 10.74% and a negative net margin of 4.00%.The firm had revenue of $383.27 million during the quarter, compared to analysts' expectations of $394.92 million. During the same period in the prior year, the business posted $0.04 EPS. The firm's quarterly revenue was down 9.7% on a year-over-year basis. B&G Foods has set its FY 2026 guidance at 0.575-0.675 EPS. As a group, equities research analysts predict that B&G Foods, Inc. will post 0.57 earnings per share for the current fiscal year.
B&G Foods Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 11.3%. B&G Foods's payout ratio is presently -42.70%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on BGS shares. Barclays cut their price target on B&G Foods from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Thursday, August 13th. TD Cowen dropped their target price on shares of B&G Foods from $4.00 to $3.00 and set a "sell" rating on the stock in a report on Wednesday, August 12th. Jefferies Financial Group set a $4.00 target price on shares of B&G Foods in a research report on Wednesday, July 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of B&G Foods in a report on Tuesday, August 11th. Finally, Evercore set a $4.50 price target on shares of B&G Foods in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, B&G Foods has an average rating of "Reduce" and an average target price of $4.00.
Get Our Latest Report on BGS
About B&G Foods
(
Free Report)
B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.
The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.
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