Barclays PLC Raises Stake in B&G Foods, Inc. (NYSE:BGS)

Barclays PLC raised its position in B&G Foods, Inc. (NYSE:BGS - Free Report) by 267.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 480,312 shares of the company's stock after acquiring an additional 349,619 shares during the quarter. Barclays PLC owned approximately 0.61% of B&G Foods worth $3,308,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after acquiring an additional 2,658 shares during the last quarter. Independent Wealth Network Inc. purchased a new position in B&G Foods in the fourth quarter worth approximately $77,000. SBI Securities Co. Ltd. purchased a new position in B&G Foods in the fourth quarter worth approximately $79,000. Regent Peak Wealth Advisors LLC purchased a new position in B&G Foods in the fourth quarter worth approximately $81,000. Finally, Prism Advisors Inc. purchased a new position in B&G Foods in the fourth quarter worth approximately $82,000. Hedge funds and other institutional investors own 66.15% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their price objective on shares of B&G Foods from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $8.10.

B&G Foods Stock Up 0.3 %

Shares of NYSE:BGS opened at $6.78 on Tuesday. The company has a market capitalization of $536.56 million, a PE ratio of -19.94 and a beta of 0.74. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a twelve month low of $5.45 and a twelve month high of $11.72. The firm has a 50 day simple moving average of $6.76 and a 200-day simple moving average of $6.93.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. On average, equities analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.21%. B&G Foods's payout ratio is currently -23.90%.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.

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