Deprince Race & Zollo Inc. cut its stake in B&G Foods, Inc. (NYSE:BGS) by 87.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,109 shares of the company’s stock after selling 440,021 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.10% of B&G Foods worth $1,541,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. ERTS Wealth Advisors LLC bought a new position in shares of B&G Foods in the fourth quarter valued at approximately $54,000. Flagship Harbor Advisors LLC boosted its holdings in shares of B&G Foods by 218.5% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,169 shares of the company’s stock valued at $62,000 after acquiring an additional 1,488 shares in the last quarter. Covington Capital Management bought a new position in shares of B&G Foods in the fourth quarter valued at approximately $94,000. Hanson & Doremus Investment Management boosted its holdings in shares of B&G Foods by 17.1% in the fourth quarter. Hanson & Doremus Investment Management now owns 3,387 shares of the company’s stock valued at $98,000 after acquiring an additional 495 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of B&G Foods by 15.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,305 shares of the company’s stock valued at $124,000 after acquiring an additional 573 shares in the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.
Shares of NYSE:BGS opened at $24.63 on Friday. The company has a market cap of $1.61 billion, a P/E ratio of 13.31 and a beta of 0.41. B&G Foods, Inc. has a 1-year low of $21.92 and a 1-year high of $33.50. The company has a quick ratio of 0.71, a current ratio of 2.27 and a debt-to-equity ratio of 1.82.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.90 annualized dividend and a dividend yield of 7.71%. B&G Foods’s dividend payout ratio (DPR) is presently 102.70%.
Several research analysts have recently issued reports on BGS shares. Citigroup decreased their price objective on shares of B&G Foods from $33.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, February 27th. Zacks Investment Research upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Barclays restated a “hold” rating and set a $23.00 target price on shares of B&G Foods in a report on Thursday, February 28th. ValuEngine upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. Finally, Piper Jaffray Companies set a $26.00 target price on shares of B&G Foods and gave the stock a “hold” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. B&G Foods has an average rating of “Hold” and a consensus target price of $28.72.
In other news, COO Kenneth G. Romanzi purchased 1,200 shares of B&G Foods stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $24.64 per share, for a total transaction of $29,568.00. Following the transaction, the chief operating officer now owns 1,200 shares in the company, valued at $29,568. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently 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 in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.
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