Yousif Capital Management LLC Raises Holdings in B&G Foods, Inc. (NYSE:BGS)

Yousif Capital Management LLC boosted its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 7.3% in the 4th quarter, HoldingsChannel reports. The fund owned 38,680 shares of the company’s stock after buying an additional 2,615 shares during the quarter. Yousif Capital Management LLC’s holdings in B&G Foods were worth $406,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. raised its position in B&G Foods by 72.7% during the 3rd quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock valued at $10,760,000 after purchasing an additional 458,082 shares during the last quarter. Savoir Faire Capital Management L.P. bought a new position in shares of B&G Foods in the 3rd quarter worth approximately $3,698,000. GSA Capital Partners LLP raised its position in shares of B&G Foods by 313.0% in the 3rd quarter. GSA Capital Partners LLP now owns 317,922 shares of the company’s stock worth $3,144,000 after acquiring an additional 240,943 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of B&G Foods by 10.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,575,390 shares of the company’s stock worth $15,581,000 after acquiring an additional 148,548 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of B&G Foods in the 3rd quarter worth approximately $1,160,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

B&G Foods stock opened at $11.14 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 company has a market capitalization of $880.22 million, a P/E ratio of -12.65 and a beta of 0.70. The stock’s 50 day moving average is $11.06 and its 200 day moving average is $10.22. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $15.77.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, beating 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 last year, the business posted $0.40 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. On average, equities research analysts predict that B&G Foods, Inc. will post 0.84 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.76 annualized dividend and a yield of 6.83%. B&G Foods’s dividend payout ratio is -86.36%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Piper Sandler increased their target price on B&G Foods from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.