Peregrine Capital Management LLC Boosts Stock Position in B&G Foods, Inc. (NYSE:BGS)

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Peregrine Capital Management LLC raised its position in shares of B&G Foods, Inc. (NYSE:BGS) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 188,156 shares of the company’s stock after purchasing an additional 2,692 shares during the quarter. Peregrine Capital Management LLC’s holdings in B&G Foods were worth $4,587,000 at the end of the most recent reporting period.

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

A number of analysts have recently commented on BGS shares. Credit Suisse Group upped their target price on B&G Foods from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Zacks Investment Research cut B&G Foods from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a report on Friday. DA Davidson began coverage on B&G Foods in a report on Thursday, June 11th. They issued a “neutral” rating for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $27.00 price target on shares of B&G Foods in a report on Thursday. Finally, Seaport Global Securities initiated coverage on B&G Foods in a report on Tuesday, July 28th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.67.

NYSE:BGS opened at $28.91 on Friday. B&G Foods, Inc. has a one year low of $10.39 and a one year high of $29.65. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.78 and a current ratio of 3.69. The stock has a market cap of $1.85 billion, a PE ratio of 16.24 and a beta of 0.24. The stock has a 50 day moving average price of $24.98 and a 200 day moving average price of $19.73.

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

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

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.

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

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