Gilman Hill Asset Management LLC Acquires 34,768 Shares of B&G Foods, Inc. (NYSE:BGS)

Gilman Hill Asset Management LLC grew its holdings in B&G Foods, Inc. (NYSE:BGS) by 5.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 636,506 shares of the company’s stock after buying an additional 34,768 shares during the period. Gilman Hill Asset Management LLC’s holdings in B&G Foods were worth $5,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in B&G Foods during the second quarter worth approximately $33,000. nVerses Capital LLC purchased a new stake in B&G Foods during the 2nd quarter valued at $33,000. Versant Capital Management Inc lifted its position in B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after buying an additional 1,555 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in B&G Foods by 1,556.9% during the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after buying an additional 4,624 shares during the period. Finally, LRI Investments LLC bought a new position in B&G Foods during the first quarter valued at $60,000. 66.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BGS has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Barclays decreased their target price on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Piper Sandler cut their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.67.

B&G Foods Price Performance

Shares of NYSE:BGS traded up $0.17 during trading on Friday, reaching $8.01. 836,384 shares of the company’s stock traded hands, compared to its average volume of 1,025,216. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. The firm has a market cap of $633.20 million, a PE ratio of -5.56 and a beta of 0.60. The company has a 50-day simple moving average of $8.57 and a 200-day simple moving average of $9.14. B&G Foods, Inc. has a fifty-two week low of $7.62 and a fifty-two week high of $11.97.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The firm had revenue of $444.60 million during the quarter, compared to the consensus estimate of $435.83 million. During the same period in the prior year, the company earned $0.15 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. As a group, analysts predict that B&G Foods, Inc. will post 0.74 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 9.49%. B&G Foods’s dividend payout ratio is currently -52.78%.

Insider Activity at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the completion of the transaction, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by company insiders.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.