American Century Companies Inc. Raises Stake in B&G Foods, Inc. (NYSE:BGS)

American Century Companies Inc. grew its stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 13.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,226,706 shares of the company's stock after acquiring an additional 267,455 shares during the period. American Century Companies Inc. owned about 2.81% of B&G Foods worth $15,342,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Verition Fund Management LLC raised its holdings in shares of B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company's stock valued at $3,369,000 after acquiring an additional 368,799 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of B&G Foods in the 4th quarter valued at about $1,132,000. Dana Investment Advisors Inc. lifted its position in shares of B&G Foods by 20.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock worth $5,269,000 after purchasing an additional 129,202 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of B&G Foods during the fourth quarter valued at approximately $857,000. Finally, Point72 Asset Management L.P. purchased a new position in B&G Foods during the third quarter valued at approximately $962,000. Hedge funds and other institutional investors own 66.15% of the company's stock.

Wall Street Analyst Weigh In

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

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B&G Foods Stock Down 3.0 %

NYSE:BGS traded down $0.21 during midday trading on Wednesday, reaching $6.75. 1,380,973 shares of the stock traded hands, compared to its average volume of 1,358,510. The stock has a market capitalization of $534.18 million, a PE ratio of -19.85 and a beta of 0.47. B&G Foods, Inc. has a 12-month low of $5.45 and a 12-month high of $11.72. 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 business has a 50-day moving average of $6.68 and a two-hundred day moving average of $7.25.

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

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.26%. B&G Foods's payout ratio is -23.90%.

B&G Foods 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.