American Century Companies Inc. Lowers Stock Holdings in B&G Foods, Inc. $BGS

American Century Companies Inc. decreased its position in shares of B&G Foods, Inc. (NYSE:BGS) by 6.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,073,246 shares of the company’s stock after selling 153,460 shares during the period. American Century Companies Inc. owned approximately 2.60% of B&G Foods worth $14,243,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BGS. Raymond James Financial Inc. purchased a new stake in B&G Foods during the fourth quarter valued at about $1,132,000. Barclays PLC increased its holdings in shares of B&G Foods by 267.5% in the fourth quarter. Barclays PLC now owns 480,312 shares of the company’s stock worth $3,308,000 after buying an additional 349,619 shares during the period. Guggenheim Capital LLC increased its holdings in shares of B&G Foods by 126.9% in the fourth quarter. Guggenheim Capital LLC now owns 31,319 shares of the company’s stock worth $216,000 after buying an additional 17,516 shares during the period. Jump Financial LLC purchased a new position in shares of B&G Foods in the fourth quarter worth about $108,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of B&G Foods by 6.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 115,660 shares of the company’s stock worth $795,000 after buying an additional 6,896 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Down 1.3%

Shares of NYSE:BGS opened at $4.52 on Tuesday. B&G Foods, Inc. has a 1 year low of $3.67 and a 1 year high of $9.44. The company has a market cap of $361.60 million, a PE ratio of -1.60 and a beta of 0.48. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89. The stock’s 50-day moving average is $4.29 and its 200 day moving average is $5.35.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results 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 business had revenue of $424.43 million for the quarter, compared to analysts’ expectations of $427.80 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Sell-side analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 16.8%. The ex-dividend date of this dividend is Tuesday, September 30th. B&G Foods’s payout ratio is presently -26.86%.

Analyst Ratings Changes

Several research firms have recently commented on BGS. Piper Sandler decreased their price objective 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. Barclays decreased their price objective on 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. Finally, Royal Bank Of Canada decreased their price objective on 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. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $6.10.

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.