Maryland State Retirement & Pension System Cuts Stake in B&G Foods, Inc. $BGS

Maryland State Retirement & Pension System cut its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,117 shares of the company’s stock after selling 3,542 shares during the quarter. Maryland State Retirement & Pension System’s holdings in B&G Foods were worth $159,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in B&G Foods by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock worth $23,106,000 after purchasing an additional 744,898 shares during the period. Geode Capital Management LLC boosted its holdings in 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 valued at $12,468,000 after acquiring an additional 5,646 shares during the period. Charles Schwab Investment Management Inc. increased its stake in B&G Foods by 31.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,340,836 shares of the company’s stock worth $9,211,000 after purchasing an additional 321,414 shares during the period. Invesco Ltd. lifted its position in B&G Foods by 55.7% in the fourth 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 last quarter. Finally, Northern Trust Corp grew its holdings in shares of B&G Foods by 10.0% in the fourth quarter. Northern Trust Corp now owns 872,186 shares of the company’s stock worth $6,009,000 after purchasing an additional 79,226 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BGS shares. Royal Bank Of Canada cut their price target on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. Piper Sandler reduced their price target on B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Barclays dropped their price objective on B&G Foods from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $6.10.

B&G Foods Stock Performance

B&G Foods stock opened at $4.4150 on Wednesday. B&G Foods, Inc. has a twelve month low of $3.67 and a twelve month high of $9.44. The company has a quick ratio of 0.89, a current ratio of 2.93 and a debt-to-equity ratio of 3.96. The company has a market capitalization of $353.20 million, a P/E ratio of -1.56 and a beta of 0.48. The stock’s 50 day moving average is $4.29 and its 200 day moving average is $5.41.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The company had revenue of $424.43 million for the quarter, compared to analysts’ expectations of $427.80 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. On average, equities research analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, September 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.76 annualized dividend and a yield of 17.2%. B&G Foods’s payout ratio is -26.86%.

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