Northern Trust Corp Acquires 79,226 Shares of B&G Foods, Inc. (NYSE:BGS)

Northern Trust Corp lifted its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 10.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 872,186 shares of the company’s stock after purchasing an additional 79,226 shares during the period. Northern Trust Corp owned 1.10% of B&G Foods worth $6,009,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BGS. Stratos Wealth Partners LTD. boosted its holdings in B&G Foods by 12.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock worth $101,000 after buying an additional 1,599 shares during the last quarter. Tower Research Capital LLC TRC raised its position in B&G Foods by 5.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,158 shares of the company’s stock valued at $215,000 after buying an additional 1,718 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of B&G Foods by 50.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after purchasing an additional 2,658 shares during the last quarter. Rhumbline Advisers increased its position in shares of B&G Foods by 1.2% during the 4th quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock worth $1,730,000 after purchasing an additional 2,898 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of B&G Foods by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock worth $12,468,000 after acquiring an additional 5,646 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Stock Down 5.0%

Shares of B&G Foods stock opened at $4.20 on Wednesday. B&G Foods, Inc. has a one year low of $4.06 and a one year high of $9.75. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The stock’s 50-day moving average is $6.21 and its 200 day moving average is $6.58. The firm has a market cap of $335.15 million, a price-to-earnings ratio of -12.35 and a beta of 0.74.

B&G Foods (NYSE:BGS) last announced its earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $425.40 million for the quarter, compared to the consensus estimate of $459.40 million. During the same quarter in the previous year, the company earned $0.18 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 18.10%. B&G Foods’s dividend payout ratio is presently -28.57%.

Analysts Set New Price Targets

Several analysts recently issued reports on BGS shares. Barclays reduced their price target on B&G Foods from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Piper Sandler lowered their target price on B&G Foods from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, B&G Foods currently has a consensus rating of “Hold” and an average target price of $7.30.

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.