Federated Hermes Inc. Has $1.27 Million Position in B&G Foods, Inc. (NYSE:BGS)

Federated Hermes Inc. lessened its holdings in B&G Foods, Inc. (NYSE:BGS) by 54.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,284 shares of the company’s stock after selling 144,262 shares during the period. Federated Hermes Inc.’s holdings in B&G Foods were worth $1,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BGS. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in B&G Foods during the 3rd quarter worth about $70,000. SG Americas Securities LLC purchased a new stake in shares of B&G Foods in the third quarter worth approximately $104,000. Mutual of America Capital Management LLC boosted its holdings in shares of B&G Foods by 8.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 13,761 shares of the company’s stock worth $144,000 after purchasing an additional 1,090 shares during the period. B. Riley Wealth Advisors Inc. grew 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 purchasing an additional 4,152 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in B&G Foods by 35.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,166 shares of the company’s stock valued at $170,000 after buying an additional 4,517 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BGS. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Piper Sandler lifted their price objective on B&G Foods from $8.00 to $9.00 and gave the company 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.50.

B&G Foods Price Performance

NYSE BGS opened at $11.26 on Tuesday. 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 capitalization of $890.10 million, a PE ratio of -12.80 and a beta of 0.71. B&G Foods, Inc. has a 12-month low of $7.20 and a 12-month high of $16.68. The company has a 50 day moving average price of $10.88 and a two-hundred day moving average price of $10.13.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $578.13 million for 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 for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. As a group, equities analysts predict that B&G Foods, Inc. will post 0.83 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.76 annualized dividend and a dividend yield of 6.75%. B&G Foods’s dividend payout ratio is presently -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.