LPL Financial LLC Sells 37,784 Shares of B&G Foods, Inc. (NYSE:BGS)

LPL Financial LLC lessened its position in shares of B&G Foods, Inc. (NYSE:BGS) by 35.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,501 shares of the company’s stock after selling 37,784 shares during the period. LPL Financial LLC owned approximately 0.09% of B&G Foods worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BGS. American Century Companies Inc. increased its position in 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 worth $15,342,000 after purchasing an additional 267,455 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of B&G Foods by 1.4% during the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock worth $16,018,000 after buying an additional 24,995 shares during the last quarter. Dana Investment Advisors Inc. increased its holdings in shares of B&G Foods by 20.3% during the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company’s stock worth $5,269,000 after buying an additional 129,202 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of B&G Foods by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock valued at $2,644,000 after acquiring an additional 10,742 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of B&G Foods by 5.1% during the 4th quarter. Empowered Funds LLC now owns 331,814 shares of the company’s stock valued at $2,286,000 after acquiring an additional 16,194 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

B&G Foods Price Performance

Shares of NYSE BGS opened at $6.76 on Friday. The company has a market capitalization of $534.97 million, a PE ratio of -19.88 and a beta of 0.74. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a twelve month low of $5.45 and a twelve month high of $11.72. The firm has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $6.95.

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

B&G Foods Dividend Announcement

The firm 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.24%. The ex-dividend date is Monday, March 31st. B&G Foods’s payout ratio is -23.90%.

B&G Foods 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.