Bayesian Capital Management LP Purchases Shares of 29,303 B&G Foods, Inc. (NYSE:BGS)

Bayesian Capital Management LP purchased a new stake in shares of B&G Foods, Inc. (NYSE:BGS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,303 shares of the company’s stock, valued at approximately $335,000.

Several other institutional investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in shares of B&G Foods by 1,556.9% during the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after acquiring an additional 4,624 shares during the last quarter. LRI Investments LLC bought a new position in shares of B&G Foods during the first quarter valued at about $60,000. Signaturefd LLC raised its stake in shares of B&G Foods by 58.2% during the fourth quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock valued at $64,000 after acquiring an additional 2,254 shares during the last quarter. CWM LLC raised its stake in shares of B&G Foods by 57.6% during the fourth quarter. CWM LLC now owns 6,257 shares of the company’s stock valued at $66,000 after acquiring an additional 2,287 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in B&G Foods in the fourth quarter worth about $76,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Trading Down 0.2 %

Shares of BGS opened at $8.62 on Thursday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.92 and a current ratio of 3.22. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.15. The firm’s 50-day simple moving average is $8.58 and its two-hundred day simple moving average is $9.81.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). B&G Foods had a negative net margin of 5.42% and a positive return on equity of 8.33%. The firm had revenue of $475.22 million for the quarter, compared to analysts’ expectations of $480.93 million. During the same quarter in the previous year, the company earned $0.27 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. Sell-side analysts forecast that B&G Foods, Inc. will post 0.78 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Friday, June 28th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date was Friday, June 28th. B&G Foods’s payout ratio is -52.78%.

Insider Activity

In other news, Director Stephen Sherrill purchased 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $8.59 per share, for a total transaction of $1,073,750.00. Following the completion of the acquisition, the director now directly owns 270,136 shares in the company, valued at approximately $2,320,468.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other B&G Foods news, CFO Bruce C. Wacha purchased 5,200 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $8.59 per share, for a total transaction of $44,668.00. Following the completion of the transaction, the chief financial officer now owns 91,328 shares of the company’s stock, valued at $784,507.52. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen Sherrill purchased 125,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was acquired at an average price of $8.59 per share, for a total transaction of $1,073,750.00. Following the completion of the transaction, the director now directly owns 270,136 shares of the company’s stock, valued at approximately $2,320,468.24. The disclosure for this purchase can be found here. Insiders have bought a total of 141,955 shares of company stock worth $1,218,453 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. StockNews.com downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Finally, Barclays decreased their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, B&G Foods presently has an average rating of “Hold” and an average price target of $8.50.

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.