B&G Foods, Inc. $BGS Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC trimmed its position in shares of B&G Foods, Inc. (NYSE:BGS) by 73.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,135 shares of the company’s stock after selling 30,425 shares during the period. GAMMA Investing LLC’s holdings in B&G Foods were worth $47,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of B&G Foods by 4,994.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,264,936 shares of the company’s stock worth $15,560,000 after acquiring an additional 2,220,473 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of B&G Foods by 15,131.8% during the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after purchasing an additional 1,875,589 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $9,211,000 after acquiring an additional 321,414 shares in the last quarter. Invesco Ltd. lifted its stake in B&G Foods by 8.1% in the 1st quarter. Invesco Ltd. now owns 1,225,109 shares of the company’s stock worth $8,416,000 after acquiring an additional 92,275 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of B&G Foods by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 789,956 shares of the company’s stock worth $5,427,000 after purchasing an additional 97,209 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of B&G Foods in a research report on Saturday, September 27th. Royal Bank Of Canada lowered their price objective on 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. Finally, Barclays lowered their price objective on B&G Foods from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $6.10.

B&G Foods Stock Down 1.7%

NYSE:BGS opened at $4.43 on Friday. 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, Inc. has a 12-month low of $3.67 and a 12-month high of $8.90. The firm has a market capitalization of $354 million, a P/E ratio of -1.56 and a beta of 0.44. The stock’s fifty day simple moving average is $4.40 and its 200-day simple moving average is $4.91.

B&G Foods (NYSE:BGS) last issued its 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). The company had revenue of $424.43 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Equities research analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

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