Voya Investment Management LLC Decreases Holdings in B&G Foods, Inc. $BGS

Voya Investment Management LLC trimmed its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 9.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,613 shares of the company’s stock after selling 2,385 shares during the period. Voya Investment Management LLC’s holdings in B&G Foods were worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in B&G Foods by 1,033.9% during the 1st quarter. GAMMA Investing LLC now owns 285,517 shares of the company’s stock worth $1,962,000 after buying an additional 260,338 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in B&G Foods by 131.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 166,199 shares of the company’s stock worth $1,142,000 after buying an additional 94,424 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in B&G Foods by 88.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,457 shares of the company’s stock worth $223,000 after buying an additional 15,263 shares during the last quarter. Nuveen LLC purchased a new stake in B&G Foods during the 1st quarter worth about $1,750,000. Finally, Bank of New York Mellon Corp lifted its holdings in B&G Foods by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 789,956 shares of the company’s stock worth $5,427,000 after buying an additional 97,209 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

Shares of BGS stock opened at $4.44 on Wednesday. The stock has a market capitalization of $355.20 million, a PE ratio of -1.57 and a beta of 0.46. B&G Foods, Inc. has a 52-week low of $3.67 and a 52-week high of $8.95. The stock’s 50-day moving average price is $4.41 and its 200 day moving average price is $4.97. The company has a quick ratio of 0.89, a current ratio of 2.93 and a debt-to-equity ratio of 3.96.

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 the consensus estimate of $0.07 by ($0.03). The company had revenue of $424.43 million during the quarter, compared to analyst estimates of $427.80 million. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The business’s revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. As a group, equities research analysts forecast 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 Monday, October 27th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.76 annualized dividend and a yield of 17.1%. B&G Foods’s payout ratio is presently -26.86%.

Analyst Upgrades and Downgrades

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

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.