Poehling Capital Management LLC Has $1.94 Million Stake in B&G Foods, Inc. (BGS)

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Poehling Capital Management LLC increased its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 32.4% during the second quarter, HoldingsChannel.com reports. The fund owned 64,725 shares of the company’s stock after buying an additional 15,825 shares during the period. B&G Foods comprises approximately 1.7% of Poehling Capital Management LLC’s holdings, making the stock its 15th biggest position. Poehling Capital Management LLC’s holdings in B&G Foods were worth $1,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of BGS. Ceredex Value Advisors LLC acquired a new stake in shares of B&G Foods during the 1st quarter valued at about $77,276,000. Principal Financial Group Inc. grew its position in shares of B&G Foods by 14.5% during the 1st quarter. Principal Financial Group Inc. now owns 6,012,445 shares of the company’s stock valued at $142,496,000 after acquiring an additional 760,618 shares during the period. Epoch Investment Partners Inc. grew its position in shares of B&G Foods by 25.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,326,947 shares of the company’s stock valued at $31,449,000 after acquiring an additional 266,016 shares during the period. Royal Bank of Canada grew its position in shares of B&G Foods by 6.8% during the 1st quarter. Royal Bank of Canada now owns 3,973,141 shares of the company’s stock valued at $94,162,000 after acquiring an additional 253,495 shares during the period. Finally, Jennison Associates LLC grew its position in shares of B&G Foods by 60.0% during the 2nd quarter. Jennison Associates LLC now owns 665,042 shares of the company’s stock valued at $19,885,000 after acquiring an additional 249,502 shares during the period. Hedge funds and other institutional investors own 92.94% of the company’s stock.

BGS has been the topic of a number of analyst reports. ValuEngine cut B&G Foods from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Royal Bank of Canada restated a “buy” rating and set a $39.00 target price on shares of B&G Foods in a research report on Friday, August 3rd. Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Credit Suisse Group set a $21.00 target price on B&G Foods and gave the company a “hold” rating in a research report on Saturday, May 5th. Finally, Berenberg Bank upgraded B&G Foods from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $34.13.

BGS stock opened at $32.00 on Monday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.31 and a current ratio of 3.73. B&G Foods, Inc. has a 12-month low of $22.00 and a 12-month high of $39.75. The stock has a market capitalization of $2.07 billion, a P/E ratio of 15.09 and a beta of 0.47.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). The firm had revenue of $388.40 million during the quarter, compared to analyst estimates of $386.91 million. B&G Foods had a return on equity of 16.12% and a net margin of 11.23%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. analysts expect that B&G Foods, Inc. will post 2.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Friday, September 28th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Thursday, September 27th. B&G Foods’s payout ratio is presently 89.62%.

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, 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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