Janney Montgomery Scott LLC Sells 3,910 Shares of B&G Foods, Inc. (NYSE:BGS)

Janney Montgomery Scott LLC reduced its stake in B&G Foods, Inc. (NYSE:BGS) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,051 shares of the company’s stock after selling 3,910 shares during the period. Janney Montgomery Scott LLC’s holdings in B&G Foods were worth $172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of B&G Foods by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock valued at $23,106,000 after acquiring an additional 744,898 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of B&G Foods by 113.2% in the fourth quarter. Two Sigma Investments LP now owns 830,817 shares of the company’s stock worth $5,724,000 after purchasing an additional 441,117 shares during the last quarter. Invesco Ltd. increased its holdings in B&G Foods by 55.7% during the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company’s stock valued at $7,805,000 after purchasing an additional 405,033 shares during the period. Barclays PLC raised its position in B&G Foods by 267.5% during the 4th quarter. Barclays PLC now owns 480,312 shares of the company’s stock valued at $3,308,000 after purchasing an additional 349,619 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in B&G Foods by 279.0% in the 4th quarter. Two Sigma Advisers LP now owns 458,200 shares of the company’s stock worth $3,157,000 after buying an additional 337,300 shares during the period. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $4.57 on Monday. B&G Foods, Inc. has a 12 month low of $3.97 and a 12 month high of $9.44. The firm has a market capitalization of $364.29 million, a P/E ratio of -1.72 and a beta of 0.54. The company has a current ratio of 3.32, a quick ratio of 1.07 and a debt-to-equity ratio of 3.90. The business has a fifty day simple moving average of $4.66 and a two-hundred day simple moving average of $5.96.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The business had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $459.40 million. B&G Foods had a negative net margin of 11.16% and a positive return on equity of 7.00%. The company’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. On average, equities analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 16.65%. The ex-dividend date is Monday, June 30th. B&G Foods’s dividend payout ratio (DPR) is -28.57%.

Analysts Set New Price Targets

BGS has been the subject of a number of recent analyst reports. Barclays decreased their target price on B&G Foods from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Piper Sandler decreased their price objective on shares of 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 equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, B&G Foods currently has a consensus rating of “Hold” and a consensus target price of $7.30.

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