AQR Capital Management LLC Increases Stock Position in B&G Foods, Inc. (NYSE:BGS)

AQR Capital Management LLC lifted its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 154.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 626,807 shares of the company’s stock after buying an additional 380,054 shares during the period. AQR Capital Management LLC owned about 0.79% of B&G Foods worth $5,065,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Texas Permanent School Fund Corp raised its position in B&G Foods by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 68,433 shares of the company’s stock worth $783,000 after acquiring an additional 960 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of B&G Foods by 36.9% in the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after purchasing an additional 1,555 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of B&G Foods by 0.7% in the second quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock valued at $2,010,000 after purchasing an additional 1,625 shares during the period. SummerHaven Investment Management LLC boosted its holdings in B&G Foods by 3.0% during the second quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company’s stock worth $450,000 after buying an additional 1,636 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in B&G Foods by 12.6% during the first quarter. SeaCrest Wealth Management LLC now owns 15,170 shares of the company’s stock worth $174,000 after buying an additional 1,700 shares during the period. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Stock Up 0.2 %

Shares of NYSE:BGS opened at $8.44 on Friday. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $666.80 million, a P/E ratio of -5.86 and a beta of 0.60. B&G Foods, Inc. has a 52-week low of $7.20 and a 52-week high of $11.97. The stock’s fifty day simple moving average is $8.63 and its 200-day simple moving average is $9.26.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. During the same period in the prior year, the firm earned $0.15 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.74 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 9.01%. B&G Foods’s payout ratio is currently -52.78%.

Insider Buying and Selling at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

BGS has been the subject of a number of research reports. Barclays reduced their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Piper Sandler lowered their target price on B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Evercore ISI upgraded B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.67.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.