Intech Investment Management LLC grew its holdings in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 130.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,675 shares of the company's stock after purchasing an additional 61,619 shares during the period. Intech Investment Management LLC owned approximately 0.14% of B&G Foods worth $749,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of B&G Foods by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company's stock worth $16,018,000 after buying an additional 24,995 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in shares of B&G Foods by 20.3% during the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock valued at $5,269,000 after acquiring an additional 129,202 shares during the period. Principal Financial Group Inc. raised its holdings in B&G Foods by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 383,814 shares of the company's stock worth $2,644,000 after purchasing an additional 10,742 shares in the last quarter. Verition Fund Management LLC lifted its position in 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 worth $3,369,000 after purchasing an additional 368,799 shares during the period. Finally, Empowered Funds LLC boosted its stake in B&G Foods by 5.1% during the 4th quarter. Empowered Funds LLC now owns 331,814 shares of the company's stock valued at $2,286,000 after purchasing an additional 16,194 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.
B&G Foods Price Performance
Shares of NYSE BGS traded down $0.00 during trading on Thursday, hitting $6.60. The company had a trading volume of 3,359,072 shares, compared to its average volume of 1,293,834. B&G Foods, Inc. has a 52 week low of $5.45 and a 52 week high of $11.79. The company has a market cap of $521.99 million, a P/E ratio of -19.40 and a beta of 0.47. 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's 50-day moving average is $6.64 and its 200 day moving average is $7.32.
B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $547.95 million. Equities research analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.
B&G Foods Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.52%. B&G Foods's dividend payout ratio (DPR) is presently -23.90%.
Analyst Ratings Changes
Separately, Piper Sandler dropped their price objective on 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 equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.10.
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About B&G Foods
(
Free Report)
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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