Nisa Investment Advisors LLC Raises Holdings in B&G Foods, Inc. (NYSE:BGS)

Nisa Investment Advisors LLC raised its stake in B&G Foods, Inc. (NYSE:BGS) by 1.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 64,870 shares of the company’s stock after acquiring an additional 700 shares during the quarter. Nisa Investment Advisors LLC’s holdings in B&G Foods were worth $1,349,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BGS. Versant Capital Management Inc raised its position in B&G Foods by 124.9% in the first quarter. Versant Capital Management Inc now owns 2,092 shares of the company’s stock valued at $51,000 after purchasing an additional 1,162 shares during the period. Icon Wealth Partners LLC purchased a new position in B&G Foods in the first quarter valued at about $57,000. Optimum Investment Advisors purchased a new position in B&G Foods in the first quarter valued at about $98,000. Hanson & Doremus Investment Management raised its position in B&G Foods by 99.4% in the first quarter. Hanson & Doremus Investment Management now owns 6,752 shares of the company’s stock valued at $165,000 after purchasing an additional 3,365 shares during the period. Finally, First Allied Advisory Services Inc. raised its position in B&G Foods by 17.3% in the first quarter. First Allied Advisory Services Inc. now owns 8,688 shares of the company’s stock valued at $212,000 after purchasing an additional 1,281 shares during the period. 96.56% of the stock is currently owned by institutional investors.

Several research firms have commented on BGS. ValuEngine lowered B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd. Barclays reissued a “hold” rating and issued a $22.00 price objective on shares of B&G Foods in a research report on Monday, July 15th. Evercore ISI began coverage on B&G Foods in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $25.00 price objective on the stock. Finally, Zacks Investment Research raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.61.

Shares of NYSE BGS traded up $2.07 during midday trading on Friday, reaching $19.97. 4,749,584 shares of the company’s stock were exchanged, compared to its average volume of 1,072,994. B&G Foods, Inc. has a 52-week low of $17.76 and a 52-week high of $33.00. The company has a market capitalization of $1.30 billion, a PE ratio of 10.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.15 and a quick ratio of 0.74. The stock’s fifty day moving average price is $20.38.

B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. B&G Foods had a return on equity of 13.26% and a net margin of 10.03%. The business had revenue of $371.20 million for the quarter, compared to analyst estimates of $370.24 million. During the same period in the previous year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts expect that B&G Foods, Inc. will post 1.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 9.51%. The ex-dividend date is Friday, September 27th. B&G Foods’s payout ratio is 102.70%.

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.

Further Reading: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for B&G Foods (NYSE:BGS)

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