B&G Foods, Inc. (NYSE:BGS) Shares Sold by Investors Research Corp

Investors Research Corp lowered its position in B&G Foods, Inc. (NYSE:BGS) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,275 shares of the company’s stock after selling 3,175 shares during the period. Investors Research Corp’s holdings in B&G Foods were worth $181,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BGS. Charles Schwab Investment Management Inc. increased its stake in shares of B&G Foods by 10.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,575,390 shares of the company’s stock worth $15,581,000 after purchasing an additional 148,548 shares in the last quarter. Aigen Investment Management LP grew its stake in B&G Foods by 274.0% during the 3rd quarter. Aigen Investment Management LP now owns 78,181 shares of the company’s stock valued at $773,000 after acquiring an additional 57,276 shares in the last quarter. Invesco Ltd. grew its stake in B&G Foods by 72.7% during the 3rd quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock valued at $10,760,000 after acquiring an additional 458,082 shares in the last quarter. Federated Hermes Inc. grew its stake in B&G Foods by 78.3% during the 3rd quarter. Federated Hermes Inc. now owns 265,546 shares of the company’s stock valued at $2,626,000 after acquiring an additional 116,587 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in B&G Foods during the 3rd quarter valued at about $1,160,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BGS shares. Piper Sandler boosted their target price on shares of B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.50.

B&G Foods Stock Performance

Shares of BGS stock opened at $10.64 on Wednesday. The firm’s 50 day moving average price is $10.69 and its 200-day moving average price is $9.97. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.89 and a current ratio of 3.06. B&G Foods, Inc. has a one year low of $7.20 and a one year high of $16.68. The firm has a market cap of $841.09 million, a P/E ratio of -12.09 and a beta of 0.71.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $578.13 million for the quarter, compared to analyst estimates of $569.65 million. B&G Foods had a negative net margin of 3.21% and a positive return on equity of 8.68%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, equities research analysts predict that B&G Foods, Inc. will post 0.83 EPS for the current year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a yield of 7.14%. B&G Foods’s dividend payout ratio (DPR) is presently -86.36%.

B&G Foods Company 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.