Nisa Investment Advisors LLC Grows Holdings in B&G Foods, Inc. (NYSE:BGS)

Nisa Investment Advisors LLC raised its position in B&G Foods, Inc. (NYSE:BGS) by 113.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,840 shares of the company’s stock after buying an additional 40,861 shares during the period. Nisa Investment Advisors LLC’s holdings in B&G Foods were worth $807,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in B&G Foods by 10.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,575,390 shares of the company’s stock valued at $15,581,000 after buying an additional 148,548 shares in the last quarter. Aigen Investment Management LP grew its position in shares of B&G Foods by 274.0% in the third quarter. Aigen Investment Management LP now owns 78,181 shares of the company’s stock valued at $773,000 after purchasing an additional 57,276 shares during the period. Invesco Ltd. grew its position in shares of B&G Foods by 72.7% in the third quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock valued at $10,760,000 after purchasing an additional 458,082 shares during the period. Federated Hermes Inc. grew its position in shares of B&G Foods by 78.3% in the third quarter. Federated Hermes Inc. now owns 265,546 shares of the company’s stock valued at $2,626,000 after purchasing an additional 116,587 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of B&G Foods in the third quarter valued at about $1,160,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BGS shares. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Piper Sandler boosted their price target on shares of B&G Foods from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, B&G Foods has a consensus rating of “Hold” and an average price target of $9.50.

B&G Foods Price Performance

B&G Foods stock opened at $10.64 on Wednesday. The company’s 50 day simple moving average is $10.69 and its 200-day simple moving average is $9.97. The company has a market capitalization of $841.09 million, a price-to-earnings ratio of -12.09 and a beta of 0.71. B&G Foods, Inc. has a 1 year low of $7.20 and a 1 year 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 released its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $569.65 million. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts expect that B&G Foods, Inc. will post 0.83 earnings per share for the current year.

B&G Foods Announces Dividend

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

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.