JPMorgan Chase & Co. Boosts Holdings in B&G Foods, Inc. (NYSE:BGS)

JPMorgan Chase & Co. lifted its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 66.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 296,346 shares of the company's stock after purchasing an additional 117,912 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of B&G Foods worth $2,042,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new stake in B&G Foods during the 4th quarter worth about $103,000. KLP Kapitalforvaltning AS purchased a new stake in shares of B&G Foods during the fourth quarter worth approximately $92,000. American Century Companies Inc. raised its holdings in B&G Foods by 13.7% in the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company's stock valued at $15,342,000 after acquiring an additional 267,455 shares in the last quarter. Virtu Financial LLC purchased a new position in B&G Foods in the fourth quarter worth approximately $170,000. Finally, Quantbot Technologies LP grew its holdings in B&G Foods by 21.5% during the 4th quarter. Quantbot Technologies LP now owns 91,627 shares of the company's stock worth $631,000 after acquiring an additional 16,186 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced 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 equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.10.

B&G Foods Stock Up 0.3 %

BGS traded up $0.02 on Monday, reaching $6.78. The company's stock had a trading volume of 1,240,672 shares, compared to its average volume of 1,455,422. The company has a market capitalization of $536.56 million, a price-to-earnings ratio of -19.94 and a beta of 0.74. B&G Foods, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $11.72. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock has a 50 day moving average of $6.75 and a two-hundred day moving average of $6.93.

B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (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 business had revenue of $551.57 million during the quarter, compared to analysts' expectations of $547.95 million. As a group, analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

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