B&G Foods, Inc. (NYSE:BGS) Shares Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC grew its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,151 shares of the company’s stock after acquiring an additional 1,007 shares during the period. SummerHaven Investment Management LLC owned about 0.07% of B&G Foods worth $558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BGS. Signaturefd LLC increased its holdings in shares of B&G Foods by 58.2% in the 4th quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock valued at $64,000 after acquiring an additional 2,254 shares during the last quarter. CWM LLC increased its stake in B&G Foods by 57.6% during the fourth quarter. CWM LLC now owns 6,257 shares of the company’s stock valued at $66,000 after purchasing an additional 2,287 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in B&G Foods during the third quarter valued at $70,000. GAMMA Investing LLC acquired a new stake in shares of B&G Foods during the fourth quarter worth $76,000. Finally, SG Americas Securities LLC bought a new position in shares of B&G Foods in the 3rd quarter worth about $104,000. Institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

BGS stock opened at $11.26 on Tuesday. The firm’s 50-day moving average is $10.88 and its two-hundred day moving average is $10.13. B&G Foods, Inc. has a 52 week low of $7.20 and a 52 week high of $16.68. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.89 and a current ratio of 3.06.

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

B&G Foods Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.75%. B&G Foods’s dividend payout ratio (DPR) is presently -86.36%.

Wall Street Analysts Forecast Growth

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

B&G Foods Company Profile

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.