Raymond James Financial Inc. Acquires Shares of 164,338 B&G Foods, Inc. (NYSE:BGS)

Raymond James Financial Inc. acquired a new stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 164,338 shares of the company's stock, valued at approximately $1,132,000. Raymond James Financial Inc. owned approximately 0.21% of B&G Foods as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

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

Remove Ads

B&G Foods Stock Performance

NYSE:BGS traded down $0.30 during trading on Tuesday, reaching $6.10. The company's stock had a trading volume of 2,148,290 shares, compared to its average volume of 1,383,553. B&G Foods, Inc. has a 12 month low of $5.45 and a 12 month high of $11.72. The firm has a market cap of $482.35 million, a price-to-earnings ratio of -17.93 and a beta of 0.74. The firm has a 50 day moving average of $6.65 and a 200-day moving average of $7.15. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

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 negative net margin of 1.34% and a positive return on equity of 6.97%. The company had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. Research analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 12.47%. The ex-dividend date is Monday, March 31st. B&G Foods's dividend payout ratio (DPR) is -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.