Mercer Global Advisors Inc. ADV Invests $958,000 in B&G Foods, Inc. (NYSE:BGS)

Mercer Global Advisors Inc. ADV purchased a new stake in B&G Foods, Inc. (NYSE:BGS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 118,544 shares of the company’s stock, valued at approximately $958,000. Mercer Global Advisors Inc. ADV owned approximately 0.15% of B&G Foods at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Texas Permanent School Fund Corp increased its stake 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 valued at $783,000 after buying an additional 960 shares during the period. Versant Capital Management Inc boosted 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 acquiring an additional 1,555 shares during the last quarter. Rhumbline Advisers raised its holdings in B&G Foods by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock worth $2,010,000 after purchasing an additional 1,625 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings 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 worth $450,000 after purchasing an additional 1,636 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in B&G Foods by 12.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 15,170 shares of the company’s stock valued at $174,000 after purchasing an additional 1,700 shares during the period. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $8.87 on Thursday. The stock’s fifty day simple moving average is $8.55 and its 200 day simple moving average is $9.35. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $701.18 million, a PE ratio of -6.16 and a beta of 0.60. B&G Foods, Inc. has a 12 month low of $7.20 and a 12 month high of $11.97.

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

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 8.57%. B&G Foods’s dividend payout ratio is currently -52.78%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BGS. Evercore ISI raised shares of B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler reduced their price target on B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. StockNews.com cut B&G Foods from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Finally, Barclays lowered their price target on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.67.

Insider Buying and Selling

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 sale, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.

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.