Mutual of America Capital Management LLC Increases Holdings in B&G Foods, Inc. (NYSE:BGS)

Mutual of America Capital Management LLC raised its position in B&G Foods, Inc. (NYSE:BGS) by 8.6% in the 4th quarter, Holdings Channel reports. The firm owned 13,761 shares of the company’s stock after buying an additional 1,090 shares during the quarter. Mutual of America Capital Management LLC’s holdings in B&G Foods were worth $144,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BGS. Annis Gardner Whiting Capital Advisors LLC purchased a new position in B&G Foods during the third quarter worth about $70,000. SG Americas Securities LLC purchased a new stake in B&G Foods in the third quarter worth approximately $104,000. Arkadios Wealth Advisors bought a new position in B&G Foods during the third quarter valued at approximately $113,000. Everence Capital Management Inc. bought a new position in shares of B&G Foods during the 3rd quarter valued at $149,000. Finally, B. Riley Wealth Advisors Inc. boosted its position in B&G Foods by 34.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 16,098 shares of the company’s stock valued at $162,000 after buying an additional 4,152 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Price Performance

Shares of BGS opened at $11.07 on Wednesday. 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 market capitalization of $874.70 million, a P/E ratio of -12.57 and a beta of 0.71. The firm has a 50 day moving average of $10.76 and a 200 day moving average of $10.02. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $16.68.

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. The business had revenue of $578.13 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities research analysts anticipate that B&G Foods, Inc. will post 0.83 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.87%. The ex-dividend date is Wednesday, March 27th. B&G Foods’s dividend payout ratio is currently -86.36%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BGS. Piper Sandler lifted their target price on shares of B&G Foods from $8.00 to $9.00 and gave the stock 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 report on Saturday, March 9th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, B&G Foods has an average rating of “Hold” and a consensus price target of $9.50.

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.