Invesco Ltd. Purchases 92,275 Shares of B&G Foods, Inc. $BGS

Invesco Ltd. boosted its position in B&G Foods, Inc. (NYSE:BGS) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,225,109 shares of the company’s stock after acquiring an additional 92,275 shares during the period. Invesco Ltd. owned 1.54% of B&G Foods worth $8,416,000 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. bought a new stake in B&G Foods in the 4th quarter worth $1,132,000. Barclays PLC grew its holdings in B&G Foods by 267.5% in the 4th quarter. Barclays PLC now owns 480,312 shares of the company’s stock worth $3,308,000 after acquiring an additional 349,619 shares during the last quarter. Guggenheim Capital LLC grew its holdings in B&G Foods by 126.9% in the 4th quarter. Guggenheim Capital LLC now owns 31,319 shares of the company’s stock worth $216,000 after acquiring an additional 17,516 shares during the last quarter. Jump Financial LLC bought a new stake in B&G Foods in the 4th quarter worth $108,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in B&G Foods by 6.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 115,660 shares of the company’s stock worth $795,000 after acquiring an additional 6,896 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BGS. Barclays cut 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. Piper Sandler cut their price target on shares of 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, Royal Bank Of Canada dropped their target price on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $6.10.

B&G Foods Trading 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 stock has a market cap of $361.60 million, a P/E ratio of -1.60 and a beta of 0.48. The firm has a 50-day moving average of $4.29 and a 200 day moving average of $5.35. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89.

B&G Foods (NYSE:BGS) last issued 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 period last year, the business earned $0.08 earnings per share. The company’s revenue 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. As a group, sell-side analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

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

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.