110,400 Shares in B&G Foods, Inc. (NYSE:BGS) Purchased by Readystate Asset Management LP

Readystate Asset Management LP bought a new position in shares of B&G Foods, Inc. (NYSE:BGS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 110,400 shares of the company’s stock, valued at approximately $1,159,000.

Several other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in B&G Foods by 13.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 50,883 shares of the company’s stock worth $535,000 after buying an additional 5,841 shares during the period. Legal & General Group Plc increased its stake in B&G Foods by 3.9% during the fourth quarter. Legal & General Group Plc now owns 218,200 shares of the company’s stock worth $2,291,000 after acquiring an additional 8,255 shares during the last quarter. Barclays PLC increased its stake in B&G Foods by 219.1% during the fourth quarter. Barclays PLC now owns 111,869 shares of the company’s stock worth $1,174,000 after acquiring an additional 76,816 shares during the last quarter. Vanguard Group Inc. increased its stake in B&G Foods by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock worth $105,453,000 after acquiring an additional 1,190,116 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in B&G Foods by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 194,234 shares of the company’s stock worth $2,040,000 after acquiring an additional 1,926 shares during the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Down 0.4 %

Shares of BGS stock traded down $0.04 during trading hours on Thursday, reaching $10.58. The company had a trading volume of 574,176 shares, compared to its average volume of 1,022,010. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $16.68. The stock’s fifty day simple moving average is $10.73 and its 200 day simple moving average is $9.98. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.89 and a current ratio of 3.06. The company has a market capitalization of $835.95 million, a P/E ratio of -12.02 and a beta of 0.71.

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

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a yield of 7.19%. B&G Foods’s dividend payout ratio (DPR) is presently -86.36%.

Analyst Ratings Changes

Several brokerages have commented on BGS. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Piper Sandler upped their price target on B&G Foods from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, B&G Foods has a consensus rating of “Hold” and a consensus target price of $9.50.

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.