Investors Research Corp Lowers Position in B&G Foods, Inc. (NYSE:BGS)

Investors Research Corp trimmed its stake in B&G Foods, Inc. (NYSE:BGS) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,275 shares of the company’s stock after selling 3,175 shares during the quarter. Investors Research Corp’s holdings in B&G Foods were worth $181,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its position in B&G Foods by 2.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 66,492 shares of the company’s stock valued at $1,794,000 after buying an additional 1,688 shares in the last quarter. American Century Companies Inc. raised its holdings in B&G Foods by 16.5% in the first quarter. American Century Companies Inc. now owns 18,804 shares of the company’s stock valued at $507,000 after acquiring an additional 2,664 shares in the last quarter. HighTower Advisors LLC increased its stake in B&G Foods by 13.6% during the first quarter. HighTower Advisors LLC now owns 13,087 shares of the company’s stock valued at $352,000 after purchasing an additional 1,571 shares during the last quarter. Citigroup Inc. increased its stake in B&G Foods by 5.7% during the first quarter. Citigroup Inc. now owns 61,601 shares of the company’s stock valued at $1,662,000 after purchasing an additional 3,303 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in B&G Foods by 56.5% during the first quarter. MetLife Investment Management LLC now owns 33,903 shares of the company’s stock valued at $915,000 after purchasing an additional 12,233 shares during the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Piper Sandler boosted their target price on shares of B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, B&G Foods has a consensus rating of “Hold” and an average target price of $9.50.

B&G Foods Stock Down 0.3 %

BGS stock opened at $10.64 on Wednesday. The firm has a fifty day moving average price of $10.69 and a two-hundred day moving average price of $9.97. The firm has a market cap of $841.09 million, a price-to-earnings ratio of -12.09 and a beta of 0.71. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.06 and a quick ratio of 0.89. B&G Foods, Inc. has a 1-year low of $7.20 and a 1-year high of $16.68.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $578.13 million during the quarter, compared to analyst estimates of $569.65 million. B&G Foods had a negative net margin of 3.21% and a positive return on equity of 8.68%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Research analysts predict that B&G Foods, Inc. will post 0.83 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.76 annualized dividend and a dividend yield of 7.14%. B&G Foods’s dividend payout ratio is currently -86.36%.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.