B&G Foods, Inc. (NYSE:BGS) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 71.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,310 shares of the company's stock after selling 203,500 shares during the period. Prudential Financial Inc. owned approximately 0.10% of B&G Foods worth $560,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its stake in shares of B&G Foods by 12.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company's stock worth $101,000 after buying an additional 1,599 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 in the last quarter. Rhumbline Advisers lifted its holdings in B&G Foods by 1.2% in the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company's stock valued at $1,730,000 after acquiring an additional 2,898 shares during the period. Stifel Financial Corp boosted its position in shares of B&G Foods by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 181,529 shares of the company's stock worth $1,612,000 after purchasing an additional 3,359 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of B&G Foods by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,926 shares of the company's stock worth $1,731,000 after purchasing an additional 3,879 shares during the period. Institutional investors and hedge funds own 66.15% of the company's stock.

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Analyst Ratings Changes

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

B&G Foods Price Performance

NYSE:BGS traded up $0.48 during mid-day trading on Friday, hitting $6.26. 3,208,237 shares of the company's stock traded hands, compared to its average volume of 1,415,219. B&G Foods, Inc. has a 1 year low of $5.45 and a 1 year high of $11.72. The company has a market cap of $495.01 million, a PE ratio of -18.40 and a beta of 0.74. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The firm's 50 day simple moving average is $6.62 and its 200 day simple moving average is $7.10.

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

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 12.15%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods's payout ratio is -23.90%.

B&G Foods Company Profile

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.