Intech Investment Management LLC Makes New Investment in B&G Foods, Inc. (NYSE:BGS)

Intech Investment Management LLC bought a new stake in shares of B&G Foods, Inc. (NYSE:BGS) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 25,053 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of B&G Foods by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after purchasing an additional 1,190,116 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of B&G Foods by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after purchasing an additional 485,714 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of B&G Foods by 71.3% during the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock valued at $13,254,000 after purchasing an additional 682,688 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of B&G Foods by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after purchasing an additional 5,842 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its holdings in shares of B&G Foods by 3.0% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 601,738 shares of the company’s stock valued at $4,862,000 after purchasing an additional 17,785 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods 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 transaction, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

B&G Foods Trading Up 0.5 %

Shares of BGS opened at $9.34 on Friday. B&G Foods, Inc. has a 52-week low of $7.20 and a 52-week high of $11.97. 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 firm’s fifty day moving average is $8.59 and its two-hundred day moving average is $9.34. The stock has a market cap of $738.34 million, a PE ratio of -6.49 and a beta of 0.60.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $435.83 million. During the same quarter in the previous year, the company posted $0.15 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Research analysts forecast that B&G Foods, Inc. will post 0.74 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm 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 dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 8.14%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday. Evercore ISI raised shares of B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Barclays dropped their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th. Finally, Piper Sandler dropped their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, B&G Foods currently has an average rating of “Hold” and a consensus target price of $8.67.

B&G Foods 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.