Charles Schwab Investment Management Inc. Sells 382,880 Shares of B&G Foods, Inc. (NYSE:BGS)

Charles Schwab Investment Management Inc. cut its position in B&G Foods, Inc. (NYSE:BGS - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,019,422 shares of the company's stock after selling 382,880 shares during the period. Charles Schwab Investment Management Inc. owned about 1.29% of B&G Foods worth $7,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Wealth Network Inc. acquired a new stake in B&G Foods during the 4th quarter worth $77,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of B&G Foods during the third quarter worth about $102,000. SBI Securities Co. Ltd. acquired a new stake in shares of B&G Foods during the fourth quarter worth about $79,000. Regent Peak Wealth Advisors LLC bought a new position in shares of B&G Foods during the 4th quarter valued at about $81,000. Finally, Prism Advisors Inc. acquired a new position in shares of B&G Foods in the 4th quarter valued at approximately $82,000. 66.15% of the stock is owned by institutional investors.

B&G Foods Stock Down 0.1 %

NYSE:BGS traded down $0.00 during trading hours on Thursday, reaching $6.60. 3,359,072 shares of the stock were exchanged, compared to its average volume of 1,882,697. The stock has a market cap of $521.99 million, a PE ratio of -19.40 and a beta of 0.47. B&G Foods, Inc. has a twelve month low of $5.45 and a twelve month high of $11.79. The firm has a 50 day moving average of $6.64 and a 200 day moving average of $7.32. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49.

B&G Foods (NYSE:BGS - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. On average, equities analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 11.52%. B&G Foods's payout ratio is presently -23.90%.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price target on shares of B&G Foods from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.10.

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.