Quadrant Capital Group LLC lessened its stake in shares of B&G Foods, Inc. (NYSE:BGS – Free Report) by 27.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,488 shares of the company’s stock after selling 4,341 shares during the period. Quadrant Capital Group LLC’s holdings in B&G Foods were worth $160,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the stock. Cetera Advisors LLC raised its stake in shares of B&G Foods by 36.1% during the 2nd quarter. Cetera Advisors LLC now owns 188,536 shares of the company’s stock worth $2,624,000 after purchasing an additional 50,003 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in B&G Foods by 6.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,426,842 shares of the company’s stock worth $19,862,000 after acquiring an additional 91,500 shares in the last quarter. Citigroup Inc. lifted its stake in B&G Foods by 58.6% in the second quarter. Citigroup Inc. now owns 52,749 shares of the company’s stock valued at $734,000 after acquiring an additional 19,485 shares during the last quarter. Swiss National Bank grew its position in shares of B&G Foods by 1.2% in the 2nd quarter. Swiss National Bank now owns 156,500 shares of the company’s stock valued at $2,178,000 after acquiring an additional 1,800 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of B&G Foods by 7.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 81,625 shares of the company’s stock worth $1,136,000 after purchasing an additional 5,741 shares during the last quarter. 63.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on BGS. Barclays cut their target price on shares of B&G Foods from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, October 12th. Piper Sandler lowered shares of B&G Foods from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $14.00 to $8.00 in a research note on Tuesday, October 3rd. TD Cowen decreased their target price on B&G Foods from $10.00 to $9.50 and set an “underperform” rating on the stock in a research report on Tuesday, September 19th. TheStreet lowered B&G Foods from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Finally, StockNews.com downgraded B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to MarketBeat.com, B&G Foods currently has a consensus rating of “Reduce” and an average price target of $9.13.
B&G Foods Price Performance
Shares of NYSE BGS opened at $9.45 on Tuesday. The business has a fifty day moving average price of $9.09 and a two-hundred day moving average price of $11.80. The stock has a market capitalization of $742.96 million, a PE ratio of -16.58 and a beta of 0.53. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.52 and a quick ratio of 0.76. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $16.68.
B&G Foods (NYSE:BGS – Get Free Report) last released its earnings results on Wednesday, November 8th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $502.73 million for the quarter, compared to analyst estimates of $505.34 million. B&G Foods had a negative net margin of 2.11% and a positive return on equity of 9.23%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. As a group, equities analysts predict that B&G Foods, Inc. will post 0.99 earnings per share for the current fiscal year.
B&G Foods Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.76 annualized dividend and a dividend yield of 8.04%. B&G Foods’s dividend payout ratio is currently -133.33%.
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, baking powder and soda, cookies and crackers, corn starch, nut clusters, and other specialty products.
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