SG Americas Securities LLC Grows Stock Position in B&G Foods, Inc. $BGS

SG Americas Securities LLC increased its holdings in B&G Foods, Inc. (NYSE:BGS) by 1,597.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,027 shares of the company’s stock after buying an additional 279,532 shares during the period. SG Americas Securities LLC’s holdings in B&G Foods were worth $1,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of B&G Foods by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,384,298 shares of the company’s stock worth $10,086,000 after buying an additional 119,362 shares in the last quarter. Millennium Management LLC boosted its position in shares of B&G Foods by 15,131.8% in the 1st quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock worth $12,970,000 after buying an additional 1,875,589 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of B&G Foods by 3.4% in the 3rd quarter. Two Sigma Investments LP now owns 1,644,731 shares of the company’s stock worth $7,286,000 after buying an additional 54,684 shares in the last quarter. Bank of America Corp DE boosted its position in shares of B&G Foods by 34.0% in the 3rd quarter. Bank of America Corp DE now owns 1,598,910 shares of the company’s stock worth $7,083,000 after buying an additional 405,437 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in B&G Foods by 2.9% in the 2nd quarter. Invesco Ltd. now owns 1,261,146 shares of the company’s stock valued at $5,335,000 after purchasing an additional 36,037 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Cowen restated a “sell” rating on shares of B&G Foods in a report on Wednesday, March 4th. Evercore set a $5.00 target price on shares of B&G Foods in a report on Wednesday, March 4th. Barclays upped their target price on shares of B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $4.70.

Insider Transactions at B&G Foods

In other news, Director David L. Wenner sold 19,500 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $101,205.00. Following the transaction, the director directly owned 787,566 shares in the company, valued at $4,087,467.54. This represents a 2.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrew D. Vogel sold 20,000 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $103,800.00. Following the transaction, the executive vice president owned 50,679 shares in the company, valued at approximately $263,024.01. The trade was a 28.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,821 shares of company stock worth $266,138 in the last three months. Company insiders own 3.20% of the company’s stock.

B&G Foods Price Performance

NYSE:BGS opened at $5.11 on Wednesday. The firm has a market cap of $408.97 million, a price-to-earnings ratio of -9.47 and a beta of 0.46. B&G Foods, Inc. has a 12-month low of $3.67 and a 12-month high of $7.24. The company has a current ratio of 3.32, a quick ratio of 1.43 and a debt-to-equity ratio of 4.30. The company’s 50-day moving average is $5.07 and its two-hundred day moving average is $4.65.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $539.56 million for the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. Research analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 14.9%. The ex-dividend date is Tuesday, March 31st. B&G Foods’s dividend payout ratio is presently -140.74%.

B&G Foods Profile

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.