Goldman Sachs Group Inc. Has $4.85 Million Stock Holdings in B&G Foods, Inc. $BGS

Goldman Sachs Group Inc. increased its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 28.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 706,117 shares of the company’s stock after buying an additional 155,503 shares during the period. Goldman Sachs Group Inc. owned about 0.88% of B&G Foods worth $4,851,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its position in B&G Foods by 3,217.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company’s stock worth $35,000 after buying an additional 4,891 shares during the period. Signaturefd LLC boosted its position in B&G Foods by 930.2% during the 1st quarter. Signaturefd LLC now owns 6,748 shares of the company’s stock worth $46,000 after buying an additional 6,093 shares during the period. CWM LLC boosted its position in B&G Foods by 61.2% during the 1st quarter. CWM LLC now owns 7,518 shares of the company’s stock worth $52,000 after buying an additional 2,855 shares during the period. Sigma Planning Corp acquired a new stake in B&G Foods during the 1st quarter worth approximately $69,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in B&G Foods during the 1st quarter worth approximately $72,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Stock Performance

Shares of BGS stock opened at $4.59 on Wednesday. The firm has a market capitalization of $367.20 million, a PE ratio of -1.62 and a beta of 0.46. The firm has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $5.16. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96. B&G Foods, Inc. has a 12 month low of $3.67 and a 12 month high of $9.44.

B&G Foods (NYSE:BGS) last posted 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). The firm had revenue of $424.43 million for the quarter, compared to analysts’ expectations of $427.80 million. B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%.B&G Foods’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

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 issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 16.6%. The ex-dividend date of this dividend is Tuesday, September 30th. B&G Foods’s payout ratio is currently -26.86%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BGS. Royal Bank Of Canada cut their target price on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Barclays lowered their price target on shares of 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 analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target 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.