The Manufacturers Life Insurance Company Raises Holdings in B&G Foods, Inc. (NYSE:BGS)

The Manufacturers Life Insurance Company boosted its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 13.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,050 shares of the company’s stock after buying an additional 3,583 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in B&G Foods were worth $243,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in B&G Foods by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after buying an additional 1,190,116 shares during the period. Empowered Funds LLC grew its holdings in B&G Foods by 52.4% in the first quarter. Empowered Funds LLC now owns 277,940 shares of the company’s stock worth $3,180,000 after purchasing an additional 95,580 shares during the last quarter. SG Americas Securities LLC grew its holdings in B&G Foods by 36.7% in the first quarter. SG Americas Securities LLC now owns 17,231 shares of the company’s stock worth $197,000 after purchasing an additional 4,623 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in B&G Foods in the second quarter worth $958,000. Finally, ProShare Advisors LLC grew its holdings in B&G Foods by 16.1% in the first quarter. ProShare Advisors LLC now owns 15,697 shares of the company’s stock worth $180,000 after purchasing an additional 2,180 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on BGS shares. Evercore ISI raised shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. 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 report on Thursday, July 11th. Barclays lowered their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.67.

Insider Activity at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by insiders.

B&G Foods Stock Performance

NYSE:BGS opened at $8.69 on Friday. B&G Foods, Inc. has a 12 month low of $7.62 and a 12 month high of $11.97. The firm has a fifty day simple moving average of $8.58 and a 200-day simple moving average of $9.05. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $686.56 million, a P/E ratio of -6.03 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $444.60 million during the quarter, compared to the consensus estimate of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors 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 dividend on an annualized basis and a yield of 8.75%. B&G Foods’s dividend payout ratio is presently -52.78%.

B&G Foods 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.