Bank of New York Mellon Corp Has $4.77 Million Holdings in B&G Foods, Inc. (NYSE:BGS)

Bank of New York Mellon Corp decreased its stake in B&G Foods, Inc. (NYSE:BGS) by 38.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 692,747 shares of the company’s stock after selling 423,736 shares during the period. Bank of New York Mellon Corp owned approximately 0.88% of B&G Foods worth $4,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Independent Wealth Network Inc. bought a new stake in shares of B&G Foods in the 4th quarter worth approximately $77,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of B&G Foods in the fourth quarter valued at $81,000. Prism Advisors Inc. bought a new position in B&G Foods in the fourth quarter worth $82,000. Fifth Third Bancorp boosted its stake in B&G Foods by 260.9% during the fourth quarter. Fifth Third Bancorp now owns 13,500 shares of the company’s stock worth $93,000 after buying an additional 9,759 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in B&G Foods by 12.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock worth $101,000 after buying an additional 1,599 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

Analyst Ratings Changes

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

B&G Foods Trading Up 1.6 %

Shares of BGS opened at $7.41 on Tuesday. The stock’s fifty day simple moving average is $6.60 and its 200-day simple moving average is $7.39. The firm has a market capitalization of $586.02 million, a PE ratio of -21.78 and a beta of 0.47. B&G Foods, Inc. has a 12-month low of $5.45 and a 12-month high of $11.79. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40.

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

B&G Foods Announces Dividend

The firm 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.26%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio is currently -23.90%.

B&G Foods Company Profile

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.