Geode Capital Management LLC Acquires 5,646 Shares of B&G Foods, Inc. (NYSE:BGS)

Geode Capital Management LLC raised its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,809,054 shares of the company’s stock after acquiring an additional 5,646 shares during the quarter. Geode Capital Management LLC owned about 2.29% of B&G Foods worth $12,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its position in shares of B&G Foods by 310.1% during the third quarter. Barclays PLC now owns 130,693 shares of the company’s stock valued at $1,160,000 after buying an additional 98,824 shares during the period. JPMorgan Chase & Co. lifted its stake in B&G Foods by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 178,434 shares of the company’s stock worth $1,584,000 after purchasing an additional 11,901 shares in the last quarter. GAMMA Investing LLC lifted its stake in B&G Foods by 346.0% in the 4th quarter. GAMMA Investing LLC now owns 25,179 shares of the company’s stock worth $173,000 after purchasing an additional 19,534 shares in the last quarter. Regent Peak Wealth Advisors LLC bought a new position in B&G Foods in the 4th quarter valued at $81,000. Finally, Wedge Capital Management L L P NC bought a new position in shares of B&G Foods in the fourth quarter worth $857,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

BGS opened at $6.84 on Tuesday. The stock has a market capitalization of $541.30 million, a P/E ratio of -20.12 and a beta of 0.74. The stock has a 50-day moving average price of $6.68 and a 200-day moving average price of $6.97. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a 12-month low of $5.45 and a 12-month high of $11.72.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. Equities analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 11.11%. The ex-dividend date is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

Analysts Set New Price Targets

Separately, Piper Sandler reduced their target price on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.10.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.