124,583 Shares in B&G Foods, Inc. (NYSE:BGS) Purchased by ClariVest Asset Management LLC

ClariVest Asset Management LLC purchased a new stake in B&G Foods, Inc. (NYSE:BGS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 124,583 shares of the company’s stock, valued at approximately $1,007,000. ClariVest Asset Management LLC owned 0.16% of B&G Foods at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Innealta Capital LLC purchased a new position in shares of B&G Foods during the 2nd quarter valued at approximately $33,000. nVerses Capital LLC purchased a new position in B&G Foods in the second quarter valued at $33,000. Versant Capital Management Inc increased its holdings in B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after buying an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after acquiring an additional 4,624 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of B&G Foods during the 1st quarter worth about $60,000. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Price Performance

B&G Foods stock opened at $8.37 on Thursday. The company has a fifty day simple moving average of $8.32 and a 200-day simple moving average of $9.49. The firm has a market capitalization of $661.26 million, a price-to-earnings ratio of -5.81 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. B&G Foods, Inc. has a 52-week low of $7.20 and a 52-week high of $11.97.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $435.83 million. During the same quarter in the prior year, the company earned $0.15 EPS. B&G Foods’s revenue was down 5.3% compared to the same quarter last year. On average, equities analysts anticipate that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date is Monday, September 30th. B&G Foods’s dividend payout ratio (DPR) is currently -52.78%.

Insider Buying and Selling at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

BGS has been the subject of a number of analyst reports. Piper Sandler reduced their price target on B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Barclays cut their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Evercore ISI raised shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.88.

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.