Algert Global LLC Boosts Stake in B&G Foods, Inc. (NYSE:BGS)

Algert Global LLC raised its position in B&G Foods, Inc. (NYSE:BGS) by 280.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,167 shares of the company’s stock after purchasing an additional 40,657 shares during the quarter. Algert Global LLC owned 0.07% of B&G Foods worth $446,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BGS. Vanguard Group Inc. raised its holdings in shares of B&G Foods by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after buying an additional 1,190,116 shares during the period. Dimensional Fund Advisors LP increased its stake in B&G Foods by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after purchasing an additional 485,714 shares during the period. American Century Companies Inc. lifted its position in shares of B&G Foods by 71.3% during the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after purchasing an additional 682,688 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of B&G Foods by 0.5% in the second 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 during the period. Finally, AQR Capital Management LLC boosted its stake in shares of B&G Foods by 154.0% in the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock valued at $5,065,000 after purchasing an additional 380,054 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at B&G Foods

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

B&G Foods Stock Down 2.7 %

B&G Foods stock opened at $8.22 on Tuesday. The stock has a market cap of $649.40 million, a PE ratio of -5.70 and a beta of 0.60. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The stock’s fifty day moving average is $8.62 and its two-hundred day moving average is $9.22. B&G Foods, Inc. has a 1-year low of $7.62 and a 1-year high of $11.97.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. On average, sell-side analysts expect that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 9.25%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

About B&G Foods

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.