Trade Report: Today: Global X Management Co. LLC Increases Position in B&G Foods Inc. (BGS)

Today: Global X Management Co. LLC Increases Position in B&G Foods Inc. (BGS)

Global X Management Co. LLC boosted its stake in shares of B&G Foods Inc. (NYSE:BGS) by 10.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,568 shares of the company’s stock after buying an additional 15,892 shares during the period. Global X Management Co. LLC owned 0.26% of B&G Foods worth $8,487,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. LS Investment Advisors LLC raised its position in shares of 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 in the last quarter. Todd Asset Management LLC purchased a new position in shares of B&G Foods during the third quarter valued at approximately $202,000. IMS Capital Management purchased a new position in shares of B&G Foods during the second quarter valued at approximately $207,000. Scotia Capital Inc. purchased a new position in shares of B&G Foods during the second quarter valued at approximately $207,000. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

Shares of B&G Foods Inc. (NYSE:BGS) traded down 1.27% during midday trading on Monday, hitting $42.70. The stock had a trading volume of 161,836 shares. The firm has a 50 day moving average price of $44.37 and a 200 day moving average price of $46.24. The stock has a market cap of $2.84 billion and a PE ratio of 24.43. B&G Foods Inc. has a one year low of $31.81 and a one year high of $52.84.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. B&G Foods had a net margin of 8.09% and a return on equity of 21.79%. The company earned $318.20 million during the quarter, compared to analyst estimates of $335.52 million. During the same quarter in the previous year, the business earned $0.39 EPS. The firm’s revenue was up 49.2% on a year-over-year basis. On average, equities analysts forecast that B&G Foods Inc. will post $2.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be issued a $0.465 dividend. This is a positive change from B&G Foods’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.86 annualized dividend and a dividend yield of 4.30%. B&G Foods’s payout ratio is 97.11%.

BGS has been the topic of several research reports. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, August 1st. Credit Suisse Group AG set a $55.00 price target on B&G Foods and gave the company a “hold” rating in a research note on Friday, October 7th. DA Davidson lowered B&G Foods from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research note on Tuesday, August 9th. RBC Capital Markets reiterated an “outperform” rating and issued a $57.00 target price (up previously from $52.00) on shares of B&G Foods in a research note on Friday, September 23rd. Finally, Royal Bank Of Canada lifted their target price on B&G Foods from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, September 23rd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.71.

B&G Foods Company Profile

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