Quantbot Technologies LP Boosts Stake in B&G Foods, Inc. (NYSE:BGS)

Quantbot Technologies LP boosted its position in B&G Foods, Inc. (NYSE:BGS) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,627 shares of the company’s stock after purchasing an additional 16,186 shares during the period. Quantbot Technologies LP’s holdings in B&G Foods were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in shares of B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after buying an additional 2,658 shares during the period. Independent Wealth Network Inc. bought a new position in B&G Foods in the 4th quarter valued at $77,000. SBI Securities Co. Ltd. purchased a new stake in B&G Foods in the fourth quarter worth $79,000. Regent Peak Wealth Advisors LLC bought a new stake in shares of B&G Foods during the fourth quarter worth $81,000. Finally, Prism Advisors Inc. purchased a new stake in shares of B&G Foods during the fourth quarter valued at $82,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price target on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.10.

B&G Foods Price Performance

Shares of BGS stock opened at $6.60 on Friday. B&G Foods, Inc. has a twelve month low of $5.45 and a twelve month high of $11.79. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The stock has a fifty day simple moving average of $6.65 and a two-hundred day simple moving average of $7.31. The stock has a market capitalization of $521.99 million, a price-to-earnings ratio of -19.40 and a beta of 0.47.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. On average, analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.52%. B&G Foods’s dividend payout ratio is presently -23.90%.

B&G Foods 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. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.