B&G Foods, Inc. (NYSE:BGS) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lessened its stake in B&G Foods, Inc. (NYSE:BGS) by 81.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,290 shares of the company’s stock after selling 55,384 shares during the quarter. Quadrature Capital Ltd’s holdings in B&G Foods were worth $129,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BGS. Signaturefd LLC lifted its position in B&G Foods by 58.2% during the fourth quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock valued at $64,000 after buying an additional 2,254 shares in the last quarter. CWM LLC boosted its position in B&G Foods by 57.6% during the 4th quarter. CWM LLC now owns 6,257 shares of the company’s stock worth $66,000 after purchasing an additional 2,287 shares during the period. GAMMA Investing LLC purchased a new stake in B&G Foods during the 4th quarter worth $76,000. Pinnacle Wealth Planning Services Inc. purchased a new position in B&G Foods in the fourth quarter valued at about $114,000. Finally, Syon Capital LLC acquired a new position in shares of B&G Foods during the fourth quarter worth about $114,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Price Performance

Shares of NYSE BGS opened at $8.09 on Friday. The company has a quick ratio of 0.92, a current ratio of 3.22 and a debt-to-equity ratio of 2.58. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.15. The business has a 50 day moving average price of $9.52 and a two-hundred day moving average price of $10.21. The firm has a market cap of $639.51 million, a PE ratio of -5.62 and a beta of 0.61.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. The company had revenue of $475.22 million during the quarter, compared to the consensus estimate of $480.93 million. During the same quarter last year, the firm posted $0.27 EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. Sell-side analysts expect that B&G Foods, Inc. will post 0.79 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Friday, June 28th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.76 dividend on an annualized basis and a yield of 9.39%. B&G Foods’s dividend payout ratio (DPR) is -52.78%.

Analyst Ratings Changes

Several brokerages recently commented on BGS. StockNews.com downgraded B&G Foods from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Piper Sandler raised shares of B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Insider Activity at B&G Foods

In other news, CFO Bruce C. Wacha bought 5,200 shares of B&G Foods stock in a transaction on Monday, May 13th. The shares were bought at an average price of $8.59 per share, with a total value of $44,668.00. Following the acquisition, the chief financial officer now directly owns 91,328 shares in the company, valued at approximately $784,507.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other B&G Foods news, Director Stephen Sherrill purchased 125,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $8.59 per share, with a total value of $1,073,750.00. Following the acquisition, the director now owns 270,136 shares of the company’s stock, valued at approximately $2,320,468.24. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Bruce C. Wacha bought 5,200 shares of the business’s stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $8.59 per share, for a total transaction of $44,668.00. Following the acquisition, the chief financial officer now directly owns 91,328 shares of the company’s stock, valued at $784,507.52. The disclosure for this purchase can be found here. Insiders bought a total of 141,955 shares of company stock valued at $1,218,453 over the last three months. 3.20% of the stock is owned by insiders.

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.