Rhumbline Advisers Grows Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Rhumbline Advisers increased its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,087 shares of the company’s stock after purchasing an additional 2,898 shares during the period. Rhumbline Advisers owned approximately 0.32% of B&G Foods worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Wealth Network Inc. purchased a new position in shares of B&G Foods during the 4th quarter valued at about $77,000. Regent Peak Wealth Advisors LLC acquired a new stake in B&G Foods during the fourth quarter worth about $81,000. Prism Advisors Inc. purchased a new position in B&G Foods during the fourth quarter valued at approximately $82,000. Fifth Third Bancorp lifted its holdings in B&G Foods by 260.9% in the fourth quarter. Fifth Third Bancorp now owns 13,500 shares of the company’s stock valued at $93,000 after acquiring an additional 9,759 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in B&G Foods by 12.3% in the fourth 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. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Price Performance

Shares of NYSE BGS opened at $6.68 on Wednesday. The firm has a 50-day simple moving average of $6.56 and a 200-day simple moving average of $7.46. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $528.25 million, a price-to-earnings ratio of -19.63 and a beta of 0.50. B&G Foods, Inc. has a 52 week low of $5.45 and a 52 week high of $11.79.

B&G Foods (NYSE:BGS) last released its 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. The business had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 11.39%. The ex-dividend date is Monday, March 31st. B&G Foods’s payout ratio is currently -23.90%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BGS shares. Piper Sandler dropped their price objective on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Barclays dropped their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI decreased their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. Finally, TD Cowen lowered their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.10.

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.