Thrivent Financial for Lutherans Cuts Holdings in B&G Foods, Inc. (NYSE:BGS)

Thrivent Financial for Lutherans lessened its holdings in B&G Foods, Inc. (NYSE:BGS) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,624 shares of the company’s stock after selling 2,584 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of B&G Foods worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in B&G Foods during the second quarter valued at $137,000. Intech Investment Management LLC purchased a new position in B&G Foods in the 2nd quarter worth approximately $202,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of B&G Foods in the 2nd quarter worth $958,000. Savoir Faire Capital Management L.P. boosted its holdings in B&G Foods by 37.5% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock valued at $4,268,000 after purchasing an additional 144,146 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of B&G Foods by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after purchasing an additional 485,714 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

Insiders Place Their Bets

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction 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 of the company’s stock, valued at $550,571.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.20% of the stock is owned by company insiders.

B&G Foods Stock Down 0.9 %

Shares of NYSE BGS opened at $8.15 on Wednesday. The stock has a market capitalization of $644.27 million, a PE ratio of -5.66 and a beta of 0.60. B&G Foods, Inc. has a 52-week low of $7.62 and a 52-week high of $11.97. 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 fifty day moving average of $8.61 and a 200-day moving average of $9.20.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting 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 company had revenue of $444.60 million during the quarter, compared to the consensus estimate of $435.83 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company’s revenue was down 5.3% compared to the same quarter last year. On average, analysts anticipate that B&G Foods, Inc. will post 0.74 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date is Monday, September 30th. B&G Foods’s payout ratio is -52.78%.

Analysts Set New Price Targets

A number of brokerages recently commented on BGS. Royal Bank of Canada restated a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI raised B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Barclays dropped their price objective on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Piper Sandler reduced their price objective on B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, B&G Foods has a consensus rating of “Hold” and a consensus price target of $8.67.

About B&G Foods

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.