Pinebridge Investments L.P. raised its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 185.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 23,561 shares of the company’s stock after acquiring an additional 15,309 shares during the quarter. Pinebridge Investments L.P.’s holdings in B&G Foods were worth $828,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in BGS. Principal Financial Group Inc. lifted its position in B&G Foods by 14.3% during the 3rd quarter. Principal Financial Group Inc. now owns 4,937,045 shares of the company’s stock valued at $157,244,000 after purchasing an additional 617,424 shares during the period. Point72 Asset Management L.P. lifted its position in B&G Foods by 1,503.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 588,485 shares of the company’s stock valued at $18,743,000 after purchasing an additional 551,785 shares during the period. SG Capital Management LLC acquired a new position in B&G Foods during the 4th quarter valued at about $15,266,000. Monarch Partners Asset Management LLC raised its position in shares of B&G Foods by 185.6% in the 4th quarter. Monarch Partners Asset Management LLC now owns 563,780 shares of the company’s stock valued at $19,817,000 after acquiring an additional 366,400 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of B&G Foods by 106,443.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 282,340 shares of the company’s stock valued at $8,993,000 after acquiring an additional 282,075 shares during the period. Institutional investors own 97.55% of the company’s stock.
Shares of B&G Foods, Inc. (NYSE BGS) opened at $31.20 on Wednesday. The firm has a market cap of $2,127.88, a P/E ratio of 20.66 and a beta of 0.02. The company has a debt-to-equity ratio of 2.34, a current ratio of 3.24 and a quick ratio of 1.06. B&G Foods, Inc. has a 52-week low of $29.50 and a 52-week high of $43.25.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.465 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.86 annualized dividend and a yield of 5.96%. B&G Foods’s dividend payout ratio (DPR) is currently 123.18%.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Berenberg Bank upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and cut their price target for the company from $43.50 to $40.00 in a research report on Thursday, November 16th. Finally, Stephens upgraded shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price target on the stock in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. B&G Foods currently has a consensus rating of “Buy” and a consensus price target of $40.22.
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B&G Foods Profile
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across 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 vinegar, maple syrup, 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, nut clusters and other specialty products.
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