B&G Foods, Inc. (NYSE:BGS) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 130.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 108,675 shares of the company’s stock after buying an additional 61,619 shares during the period. Intech Investment Management LLC’s holdings in B&G Foods were worth $749,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. grew its stake in B&G Foods by 12.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock valued at $101,000 after acquiring an additional 1,599 shares during the period. PNC Financial Services Group Inc. lifted its holdings in B&G Foods by 50.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after purchasing an additional 2,658 shares in the last quarter. Rhumbline Advisers grew its position in shares of B&G Foods by 1.2% in the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock valued at $1,730,000 after purchasing an additional 2,898 shares during the period. Stifel Financial Corp increased its stake in shares of B&G Foods by 1.9% during the third quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock worth $1,612,000 after purchasing an additional 3,359 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of B&G Foods by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,926 shares of the company’s stock worth $1,731,000 after purchasing an additional 3,879 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their price objective on B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.10.

B&G Foods Trading Up 2.7 %

Shares of BGS stock opened at $7.09 on Monday. B&G Foods, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $11.79. The firm has a market capitalization of $560.69 million, a P/E ratio of -20.84 and a beta of 0.47. The stock’s fifty day moving average is $6.64 and its two-hundred day moving average is $7.35. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. Research analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.19 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.73%. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

About B&G Foods

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.