Raymond James & Associates Sells 3,593 Shares of B&G Foods, Inc. (NYSE:BGS)

Raymond James & Associates reduced its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,981 shares of the company’s stock after selling 3,593 shares during the quarter. Raymond James & Associates’ holdings in B&G Foods were worth $535,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC bought a new position in B&G Foods during the 3rd quarter worth approximately $70,000. SG Americas Securities LLC purchased a new stake in shares of B&G Foods during the third quarter valued at approximately $104,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of B&G Foods by 34.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 16,098 shares of the company’s stock worth $162,000 after purchasing an additional 4,152 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of B&G Foods by 35.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,166 shares of the company’s stock worth $170,000 after buying an additional 4,517 shares during the period. Finally, Corton Capital Inc. raised its holdings in B&G Foods by 59.3% during the 3rd quarter. Corton Capital Inc. now owns 18,894 shares of the company’s stock valued at $187,000 after buying an additional 7,031 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of BGS opened at $10.92 on Friday. B&G Foods, Inc. has a 52 week low of $7.20 and a 52 week 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 stock has a market cap of $863.23 million, a P/E ratio of -12.42 and a beta of 0.71. The business’s 50 day moving average price is $10.81 and its 200-day moving average price is $10.05.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. B&G Foods had a positive return on equity of 8.68% and a negative net margin of 3.21%. 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 company posted $0.40 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities research analysts anticipate that B&G Foods, Inc. will post 0.83 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.76 annualized dividend and a yield of 6.96%. B&G Foods’s dividend payout ratio (DPR) is presently -86.36%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Piper Sandler boosted their target price on shares of B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.50.

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.