GAMMA Investing LLC Purchases New Holdings in B&G Foods, Inc. (NYSE:BGS)

GAMMA Investing LLC purchased a new stake in B&G Foods, Inc. (NYSE:BGS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,530 shares of the company’s stock, valued at approximately $76,000.

Several other hedge funds have also made changes to their positions in the company. Mutual of America Capital Management LLC lifted its position in shares of B&G Foods by 8.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 13,761 shares of the company’s stock valued at $144,000 after acquiring an additional 1,090 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of B&G Foods by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 114,370 shares of the company’s stock valued at $1,131,000 after acquiring an additional 1,765 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of B&G Foods by 19.6% in the 4th quarter. SG Americas Securities LLC now owns 12,608 shares of the company’s stock valued at $132,000 after acquiring an additional 2,065 shares in the last quarter. Swiss National Bank lifted its position in shares of B&G Foods by 1.4% in the 3rd quarter. Swiss National Bank now owns 158,700 shares of the company’s stock valued at $1,570,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of B&G Foods by 58.2% in the 4th quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock valued at $64,000 after acquiring an additional 2,254 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

Analysts Set New Price Targets

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

B&G Foods Price Performance

Shares of B&G Foods stock opened at $11.10 on Wednesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.06 and a quick ratio of 0.89. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $16.68. The firm has a fifty day moving average price of $10.91 and a two-hundred day moving average price of $10.15. The company has a market cap of $877.46 million, a PE ratio of -12.61 and a beta of 0.71.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $578.13 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Analysts expect that B&G Foods, Inc. will post 0.83 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.85%. The ex-dividend date was Wednesday, March 27th. B&G Foods’s dividend payout ratio is currently -86.36%.

B&G Foods 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.