State of Alaska Department of Revenue Buys 3,318 Shares of B&G Foods, Inc. (NYSE:BGS)

State of Alaska Department of Revenue grew its stake in B&G Foods, Inc. (NYSE:BGS) by 7.4% in the fourth quarter, HoldingsChannel reports. The fund owned 48,369 shares of the company’s stock after acquiring an additional 3,318 shares during the period. State of Alaska Department of Revenue’s holdings in B&G Foods were worth $507,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of B&G Foods by 124.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the company’s stock valued at $29,000 after acquiring an additional 1,039 shares during the period. Ancora Advisors LLC bought a new stake in B&G Foods during the 1st quarter worth about $60,000. Nomura Asset Management Co. Ltd. lifted its position in B&G Foods by 117.4% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $31,000 after purchasing an additional 1,080 shares during the period. Russell Investments Group Ltd. bought a new position in shares of B&G Foods in the 1st quarter valued at about $33,000. Finally, State of Wyoming acquired a new stake in shares of B&G Foods during the 2nd quarter worth approximately $30,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BGS has been the topic of several analyst reports. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Piper Sandler upped 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 report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.50.

B&G Foods Price Performance

B&G Foods stock opened at $10.66 on Friday. The company has a current ratio of 3.06, a quick ratio of 0.89 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $842.67 million, a P/E ratio of -12.11 and a beta of 0.71. The business has a 50-day moving average of $10.67 and a 200-day moving average of $9.96. 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 data on Tuesday, February 27th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.02. B&G Foods had a negative net margin of 3.21% and a positive return on equity of 8.68%. The business had revenue of $578.13 million for the quarter, compared to analyst estimates of $569.65 million. During the same quarter last year, the firm earned $0.40 EPS. B&G Foods’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, equities analysts anticipate that B&G Foods, Inc. will post 0.83 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend is Wednesday, March 27th. B&G Foods’s dividend payout ratio is currently -86.36%.

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.