B&G Foods, Inc. (NYSE:BGS) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its stake in B&G Foods, Inc. (NYSE:BGS) by 4.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 84,534 shares of the company’s stock after acquiring an additional 3,798 shares during the quarter. Truist Financial Corp owned 0.11% of B&G Foods worth $683,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in B&G Foods by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after acquiring an additional 1,190,116 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of B&G Foods by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after acquiring an additional 485,714 shares during the period. American Century Companies Inc. raised its holdings in B&G Foods by 71.3% in the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock valued at $13,254,000 after buying an additional 682,688 shares during the period. Bank of New York Mellon Corp raised its holdings in B&G Foods by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after buying an additional 5,842 shares during the period. Finally, AQR Capital Management LLC raised its holdings in B&G Foods by 154.0% in the 2nd quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock valued at $5,065,000 after buying an additional 380,054 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Barclays reduced their price objective on shares of 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. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler cut their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, B&G Foods currently has a consensus rating of “Hold” and an average price target of $8.67.

B&G Foods Price Performance

B&G Foods stock opened at $8.53 on Wednesday. B&G Foods, Inc. has a 12 month low of $7.62 and a 12 month high of $11.97. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The business has a 50 day simple moving average of $8.57 and a 200-day simple moving average of $9.10. The stock has a market capitalization of $674.31 million, a PE ratio of -5.92 and a beta of 0.60.

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

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date of this dividend is Monday, September 30th. B&G Foods’s payout ratio is -52.78%.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by corporate 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.