JPMorgan Chase & Co. Increases Stock Position in B&G Foods, Inc. (NYSE:BGS)

JPMorgan Chase & Co. boosted its position in shares of B&G Foods, Inc. (NYSE:BGS) by 66.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 296,346 shares of the company’s stock after buying an additional 117,912 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.37% of B&G Foods worth $2,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of B&G Foods by 13.7% during the 4th quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock valued at $15,342,000 after acquiring an additional 267,455 shares during the period. Raymond James Financial Inc. acquired a new stake in B&G Foods in the fourth quarter valued at approximately $1,132,000. Dana Investment Advisors Inc. grew its holdings in B&G Foods by 20.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company’s stock valued at $5,269,000 after purchasing an additional 129,202 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of B&G Foods in the fourth quarter valued at approximately $857,000. Finally, Barclays PLC raised its stake in shares of B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after buying an additional 98,824 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Down 3.1 %

NYSE BGS opened at $6.80 on Friday. The business has a fifty day moving average price of $6.72 and a 200 day moving average price of $6.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The company has a market cap of $538.14 million, a P/E ratio of -20.00 and a beta of 0.74. B&G Foods, Inc. has a one year low of $5.45 and a one year high of $11.72.

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

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.18%. B&G Foods’s payout ratio is -23.90%.

Analysts Set New Price Targets

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

About B&G Foods

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.