B&G Foods, Inc. (NYSE:BGS) Position Boosted by Essex Financial Services Inc.

Essex Financial Services Inc. increased its position in B&G Foods, Inc. (NYSE:BGS) by 10.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,462 shares of the company’s stock after purchasing an additional 3,323 shares during the period. Essex Financial Services Inc.’s holdings in B&G Foods were worth $383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in shares of B&G Foods by 21.0% during the 4th quarter. Victory Capital Management Inc. now owns 22,675 shares of the company’s stock valued at $238,000 after acquiring an additional 3,938 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of B&G Foods by 1.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 53,151 shares of the company’s stock worth $558,000 after buying an additional 1,007 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of B&G Foods by 49.6% in the 4th quarter. Truist Financial Corp now owns 82,625 shares of the company’s stock valued at $868,000 after buying an additional 27,400 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of B&G Foods by 7.3% in the 4th quarter. Yousif Capital Management LLC now owns 38,680 shares of the company’s stock valued at $406,000 after buying an additional 2,615 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in B&G Foods during the fourth quarter worth about $76,000. 66.15% of the stock is owned by institutional investors.

B&G Foods Stock Performance

Shares of NYSE BGS opened at $11.39 on Friday. B&G Foods, Inc. has a 12-month low of $7.20 and a 12-month high of $16.36. The company has a market cap of $900.38 million, a PE ratio of -12.94 and a beta of 0.70. The stock has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $10.18. The company has a current ratio of 3.06, a quick ratio of 0.89 and a debt-to-equity ratio of 2.42.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $569.65 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities research analysts forecast that B&G Foods, Inc. will post 0.84 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.67%. B&G Foods’s dividend payout ratio (DPR) is -86.36%.

Analysts Set New Price Targets

BGS has been the subject of a number of research reports. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Piper Sandler raised their target price on 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 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.com, the company presently has an average rating of “Hold” and a consensus target price of $9.50.

B&G Foods 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.