B&G Foods, Inc. (NYSE:BGS) Shares Sold by Torch Wealth Management LLC

Torch Wealth Management LLC trimmed its holdings in B&G Foods, Inc. (NYSE:BGS) by 14.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,100 shares of the company’s stock after selling 2,700 shares during the period. Torch Wealth Management LLC’s holdings in B&G Foods were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of B&G Foods by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,535 shares of the company’s stock valued at $624,000 after buying an additional 461 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of B&G Foods by 1.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 30,538 shares of the company’s stock valued at $746,000 after buying an additional 538 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of B&G Foods by 2.9% in the first quarter. Mason Street Advisors LLC now owns 21,080 shares of the company’s stock valued at $515,000 after buying an additional 604 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of B&G Foods by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 64,870 shares of the company’s stock valued at $1,349,000 after buying an additional 700 shares during the last quarter. Finally, KC Investment Advisors LLC raised its position in shares of B&G Foods by 7.1% in the first quarter. KC Investment Advisors LLC now owns 11,730 shares of the company’s stock valued at $286,000 after buying an additional 780 shares during the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.

BGS has been the subject of a number of recent research reports. Barclays reiterated a “hold” rating and issued a $22.00 target price on shares of B&G Foods in a research report on Monday, July 15th. Zacks Investment Research upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. ValuEngine cut shares of B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 22nd. Finally, Evercore ISI began coverage on shares of B&G Foods in a research report on Tuesday, June 11th. They set an “in-line” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.19.

B&G Foods stock traded up $0.39 during midday trading on Thursday, hitting $19.02. 27,462 shares of the stock were exchanged, compared to its average volume of 1,568,050. B&G Foods, Inc. has a fifty-two week low of $17.76 and a fifty-two week high of $33.00. The firm has a market cap of $1.23 billion, a PE ratio of 10.31 and a beta of 0.46. The stock’s 50-day moving average price is $19.76. The company has a debt-to-equity ratio of 2.12, a current ratio of 3.02 and a quick ratio of 0.97.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. B&G Foods had a net margin of 10.75% and a return on equity of 13.04%. The business had revenue of $371.20 million during the quarter, compared to analysts’ expectations of $370.24 million. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities analysts anticipate that B&G Foods, Inc. will post 1.8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders 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 9.99%. The ex-dividend date is Friday, September 27th. B&G Foods’s dividend payout ratio is presently 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.

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

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