Raymond James Financial Services Advisors Inc. Raises Stock Position in B&G Foods, Inc. (NYSE:BGS)

Raymond James Financial Services Advisors Inc. lifted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 138.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 69,470 shares of the company’s stock after buying an additional 40,388 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in B&G Foods were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of B&G Foods by 1.3% during the third quarter. BlackRock Inc. now owns 11,268,543 shares of the company’s stock valued at $185,818,000 after purchasing an additional 145,921 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of B&G Foods by 5.6% during the third quarter. Vanguard Group Inc. now owns 8,543,629 shares of the company’s stock valued at $140,884,000 after purchasing an additional 453,830 shares in the last quarter. State Street Corp boosted its stake in shares of B&G Foods by 2.3% during the third quarter. State Street Corp now owns 3,829,591 shares of the company’s stock valued at $64,883,000 after purchasing an additional 85,627 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of B&G Foods by 10.4% during 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 purchasing an additional 148,548 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of B&G Foods by 3.8% during the second quarter. Geode Capital Management LLC now owns 1,420,170 shares of the company’s stock valued at $19,769,000 after purchasing an additional 51,947 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Price Performance

Shares of BGS opened at $10.64 on Wednesday. The company has a market cap of $841.09 million, a price-to-earnings ratio of -12.09 and a beta of 0.71. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $16.68. The company has a quick ratio of 0.89, a current ratio of 3.06 and a debt-to-equity ratio of 2.42. The company has a 50 day moving average of $10.69 and a two-hundred day moving average of $9.97.

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

B&G Foods Announces Dividend

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 paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.76 annualized dividend and a dividend yield of 7.14%. B&G Foods’s payout ratio is currently -86.36%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BGS shares. Piper Sandler increased their price objective on shares of B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, B&G Foods has an average 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.