Today: Today, 3,600 Shares of B&G Foods Inc. (BGS) are sold by California Public Employees Retirement System

Today, 3,600 Shares of B&G Foods Inc. (BGS) are sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its stake in shares of B&G Foods Inc. (NYSE:BGS) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,400 shares of the company’s stock after selling 3,600 shares during the period. California Public Employees Retirement System’s holdings in B&G Foods were worth $4,348,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its position in B&G Foods by 1.9% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock valued at $107,000 after buying an additional 42 shares during the last quarter. IMS Capital Management bought a new position in B&G Foods during the second quarter valued at $207,000. Scotia Capital Inc. bought a new position in B&G Foods during the second quarter valued at $207,000. Tower Research Capital LLC TRC boosted its position in B&G Foods by 4,234.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,334 shares of the company’s stock valued at $209,000 after buying an additional 4,234 shares during the last quarter. Finally, National Investment Services Inc. WI bought a new position in B&G Foods during the second quarter valued at $218,000. Hedge funds and other institutional investors own 82.12% of the company’s stock.

B&G Foods Inc. (NYSE:BGS) traded down 1.97% during trading on Monday, hitting $42.40. 702,771 shares of the company were exchanged. The company has a market capitalization of $2.82 billion and a price-to-earnings ratio of 24.26. B&G Foods Inc. has a 12 month low of $31.81 and a 12 month high of $52.84. The stock’s 50-day moving average is $44.37 and its 200-day moving average is $46.24.

B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, October 27th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. The company earned $318.20 million during the quarter, compared to analyst estimates of $335.52 million. B&G Foods had a net margin of 8.09% and a return on equity of 21.79%. B&G Foods’s revenue was up 49.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that B&G Foods Inc. will post $2.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 4.30%. The ex-dividend date is Wednesday, December 28th. This is a positive change from B&G Foods’s previous quarterly dividend of $0.42. B&G Foods’s dividend payout ratio (DPR) is 97.11%.

A number of brokerages have commented on BGS. RBC Capital Markets reissued an “outperform” rating and issued a $52.00 price objective (up from $49.00) on shares of B&G Foods in a research note on Sunday, July 31st. Zacks Investment Research raised shares of B&G Foods from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday, August 1st. DA Davidson cut shares of B&G Foods from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Tuesday, August 9th. Royal Bank Of Canada lifted their price objective on shares of B&G Foods from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Finally, Credit Suisse Group AG set a $55.00 price objective on shares of B&G Foods and gave the stock a “hold” rating in a research note on Friday, October 7th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $50.71.

About B&G Foods

B&G Foods, Inc is a holding company. The Company manufactures, sells and distributes a diverse portfolio of shelf-stable and frozen food, and household products 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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