Stratos Wealth Partners LTD. Sells 4,489 Shares of B&G Foods, Inc. (NYSE:BGS)

Stratos Wealth Partners LTD. cut its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 25.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,480 shares of the company’s stock after selling 4,489 shares during the period. Stratos Wealth Partners LTD.’s holdings in B&G Foods were worth $142,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BGS. Raymond James Financial Services Advisors Inc. lifted its stake in B&G Foods by 2.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 66,492 shares of the company’s stock valued at $1,794,000 after acquiring an additional 1,688 shares in the last quarter. American Century Companies Inc. lifted its stake in B&G Foods by 16.5% during the 1st quarter. American Century Companies Inc. now owns 18,804 shares of the company’s stock valued at $507,000 after acquiring an additional 2,664 shares in the last quarter. HighTower Advisors LLC lifted its stake in B&G Foods by 13.6% during the 1st quarter. HighTower Advisors LLC now owns 13,087 shares of the company’s stock valued at $352,000 after acquiring an additional 1,571 shares in the last quarter. Citigroup Inc. lifted its stake in B&G Foods by 5.7% during the 1st quarter. Citigroup Inc. now owns 61,601 shares of the company’s stock valued at $1,662,000 after acquiring an additional 3,303 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in B&G Foods by 56.5% during the 1st quarter. MetLife Investment Management LLC now owns 33,903 shares of the company’s stock valued at $915,000 after acquiring an additional 12,233 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BGS has been the topic of several recent analyst reports. Piper Sandler raised their price objective 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. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.50.

B&G Foods Trading Down 0.3 %

NYSE BGS opened at $10.64 on Wednesday. The stock 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 one year low of $7.20 and a one year high of $16.68. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.06 and a quick ratio of 0.89. The business’s fifty day moving average is $10.69 and its 200-day moving average is $9.97.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $578.13 million for the quarter, compared to analysts’ expectations of $569.65 million. B&G Foods had a positive return on equity of 8.68% and a negative net margin of 3.21%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. Equities research analysts predict 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 issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 7.14%. The ex-dividend date is Wednesday, March 27th. B&G Foods’s dividend payout ratio (DPR) is currently -86.36%.

About B&G Foods

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.