Amundi Has $259,000 Stock Position in B&G Foods, Inc. (NYSE:BGS)

Amundi boosted its stake in B&G Foods, Inc. (NYSE:BGS) by 175.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 38,257 shares of the company’s stock after buying an additional 24,344 shares during the period. Amundi’s holdings in B&G Foods were worth $259,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BGS. PNC Financial Services Group Inc. grew its stake in B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after buying an additional 2,658 shares during the last quarter. Independent Wealth Network Inc. acquired a new position in B&G Foods in the 4th quarter valued at about $77,000. SBI Securities Co. Ltd. acquired a new position in shares of B&G Foods during the 4th quarter worth approximately $79,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of B&G Foods during the 4th quarter worth approximately $81,000. Finally, Prism Advisors Inc. acquired a new position in shares of B&G Foods during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of NYSE:BGS opened at $7.09 on Friday. The company’s 50 day moving average price is $6.64 and its two-hundred day moving average price is $7.36. B&G Foods, Inc. has a 12-month low of $5.45 and a 12-month high of $11.79. The firm has a market cap of $560.69 million, a PE ratio of -20.84 and a beta of 0.47. 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 issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. Equities research analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.