Dakota Wealth Management Sells 1,537 Shares of B&G Foods, Inc. (NYSE:BGS)

Dakota Wealth Management lowered its position in shares of B&G Foods, Inc. (NYSE:BGS) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,017 shares of the company’s stock after selling 1,537 shares during the period. Dakota Wealth Management owned approximately 0.06% of B&G Foods worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp increased its holdings in shares of B&G Foods by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 68,433 shares of the company’s stock worth $783,000 after purchasing an additional 960 shares in the last quarter. nVerses Capital LLC increased its holdings in B&G Foods by 34.1% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after buying an additional 1,400 shares in the last quarter. Versant Capital Management Inc increased its holdings in B&G Foods by 36.9% in the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after buying an additional 1,555 shares in the last quarter. Rhumbline Advisers lifted its stake in B&G Foods by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock valued at $2,010,000 after acquiring an additional 1,625 shares during the period. Finally, SummerHaven Investment Management LLC lifted its stake in B&G Foods by 3.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock valued at $450,000 after acquiring an additional 1,636 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

NYSE:BGS opened at $8.58 on Tuesday. The stock has a 50-day simple moving average of $8.57 and a two-hundred day simple moving average of $8.93. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.48 and a current ratio of 1.63. B&G Foods, Inc. has a 52-week low of $7.62 and a 52-week high of $11.97. The firm has a market capitalization of $678.26 million, a PE ratio of -5.96 and a beta of 0.60.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $444.60 million for the quarter, compared to analysts’ expectations 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 revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. Analysts forecast that B&G Foods, Inc. will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the business’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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler decreased their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Evercore ISI upgraded B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Barclays reduced their price objective on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.67.

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.