Renaissance Technologies LLC Lowers Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Renaissance Technologies LLC cut its holdings in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 32.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 284,300 shares of the company's stock after selling 138,000 shares during the quarter. Renaissance Technologies LLC owned 0.36% of B&G Foods worth $1,959,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Dana Investment Advisors Inc. lifted its position in shares of B&G Foods by 20.3% during the 4th quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock worth $5,269,000 after buying an additional 129,202 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in B&G Foods during the fourth quarter worth approximately $1,132,000. Barclays PLC grew its stake in B&G Foods by 310.1% during the third quarter. Barclays PLC now owns 130,693 shares of the company's stock worth $1,160,000 after purchasing an additional 98,824 shares during the period. Wedge Capital Management L L P NC acquired a new stake in B&G Foods during the fourth quarter worth approximately $857,000. Finally, Intech Investment Management LLC grew its stake in B&G Foods by 130.9% during the fourth quarter. Intech Investment Management LLC now owns 108,675 shares of the company's stock worth $749,000 after purchasing an additional 61,619 shares during the period. 66.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on 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 equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, B&G Foods has an average rating of "Hold" and a consensus target price of $8.10.

B&G Foods Stock Up 0.3 %

NYSE:BGS traded up $0.02 on Monday, hitting $6.78. The stock had a trading volume of 1,240,672 shares, compared to its average volume of 1,455,422. B&G Foods, Inc. has a 52 week low of $5.45 and a 52 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 business's fifty day moving average is $6.76 and its 200 day moving average is $6.93. The company has a market cap of $536.56 million, a PE ratio of -19.94 and a beta of 0.74.

B&G Foods (NYSE:BGS - Get Free Report) last posted 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. The company had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. On average, equities research analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

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