Teacher Retirement System of Texas Buys Shares of 11,573 B&G Foods, Inc. (NYSE:BGS)

Teacher Retirement System of Texas purchased a new position in B&G Foods, Inc. (NYSE:BGS) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,573 shares of the company’s stock, valued at approximately $80,000.

Several other large investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 2,658 shares during the period. Quarry LP raised its holdings in B&G Foods by 45,526.9% in the fourth quarter. Quarry LP now owns 11,863 shares of the company’s stock worth $82,000 after purchasing an additional 11,837 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in B&G Foods during the fourth quarter valued at $92,000. Freestone Grove Partners LP purchased a new position in B&G Foods during the fourth quarter valued at $91,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of B&G Foods during the 4th quarter valued at $103,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Trading Down 0.1%

Shares of BGS opened at $4.07 on Tuesday. B&G Foods, Inc. has a 1-year low of $3.97 and a 1-year high of $9.44. The firm has a market capitalization of $324.39 million, a price-to-earnings ratio of -1.53 and a beta of 0.54. The company has a 50-day moving average of $4.29 and a 200 day moving average of $5.76. The company has a debt-to-equity ratio of 3.90, a current ratio of 3.32 and a quick ratio of 1.07.

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

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 18.70%. The ex-dividend date is Monday, June 30th. B&G Foods’s dividend payout ratio (DPR) is -28.57%.

Wall Street Analyst Weigh In

BGS has been the topic of several recent analyst reports. Piper Sandler dropped their price objective on B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Barclays dropped their price target on shares of B&G Foods from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.10.

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