Comerica Bank Lowers Holdings in B&G Foods, Inc. (NYSE:BGS)

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Comerica Bank trimmed its position in B&G Foods, Inc. (NYSE:BGS) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,045 shares of the company’s stock after selling 17,171 shares during the period. Comerica Bank owned approximately 0.35% of B&G Foods worth $3,642,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its position in B&G Foods by 2.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,035 shares of the company’s stock valued at $542,000 after buying an additional 500 shares during the last quarter. Nisa Investment Advisors LLC grew its position in B&G Foods by 1.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 64,870 shares of the company’s stock valued at $1,349,000 after buying an additional 700 shares during the last quarter. 6 Meridian grew its position in B&G Foods by 4.1% in the 2nd quarter. 6 Meridian now owns 24,280 shares of the company’s stock valued at $505,000 after buying an additional 946 shares during the last quarter. Coastal Investment Advisors Inc. grew its position in B&G Foods by 333.3% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 1,300 shares of the company’s stock valued at $25,000 after buying an additional 1,000 shares during the last quarter. Finally, Diversified Trust Co boosted its position in shares of B&G Foods by 9.7% during the 2nd quarter. Diversified Trust Co now owns 12,150 shares of the company’s stock worth $253,000 after purchasing an additional 1,075 shares in the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.

Several equities research analysts have commented on BGS shares. 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 report on Friday, November 1st. Buckingham Research set a $17.00 target price on shares of B&G Foods and gave the stock a “hold” rating in a research report on Friday, November 1st. Credit Suisse Group decreased 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 report on Friday, August 30th. BMO Capital Markets decreased their target price on shares of B&G Foods to $20.00 and set a “market perform” rating on the stock in a research report on Friday, November 1st. Finally, Barclays restated a “hold” rating and set a $16.00 target price on shares of B&G Foods in a research report on Sunday, November 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. B&G Foods has an average rating of “Hold” and a consensus target price of $22.31.

Shares of NYSE BGS opened at $17.17 on Friday. The firm has a market capitalization of $1.13 billion, a P/E ratio of 9.28 and a beta of 0.41. B&G Foods, Inc. has a one year low of $14.20 and a one year high of $31.60. The company’s fifty day moving average is $17.31 and its two-hundred day moving average is $19.91. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.65 and a current ratio of 3.47.

B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, October 31st. The company reported $0.54 EPS for the quarter, missing the 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 return on equity of 12.70% and a net margin of 10.80%. B&G Foods’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, sell-side analysts forecast that B&G Foods, Inc. will post 1.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 11.07%. The ex-dividend date is Monday, December 30th. B&G Foods’s dividend payout ratio (DPR) is presently 102.70%.

In other news, Director Deann L. Brunts purchased 2,483 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $18.98 per share, with a total value of $47,127.34. Following the purchase, the director now directly owns 22,272 shares of the company’s stock, valued at approximately $422,722.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

B&G Foods Company 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.

Further Reading: How Important is Technical Analysis of Stocks

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

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