Intech Investment Management LLC Boosts Holdings in B&G Foods, Inc. (NYSE:BGS)

Intech Investment Management LLC grew its position in B&G Foods, Inc. (NYSE:BGS) by 130.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,675 shares of the company’s stock after purchasing an additional 61,619 shares during the quarter. Intech Investment Management LLC owned about 0.14% of B&G Foods worth $749,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BGS. PNC Financial Services Group Inc. boosted its position in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after purchasing an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. purchased a new stake in B&G Foods during the 4th quarter valued at about $77,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of B&G Foods in the third quarter valued at about $102,000. SBI Securities Co. Ltd. purchased a new position in shares of B&G Foods in the fourth quarter worth about $79,000. Finally, Regent Peak Wealth Advisors LLC acquired a new stake in shares of B&G Foods during the fourth quarter worth about $81,000. 66.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.10.

B&G Foods Stock Performance

NYSE BGS opened at $7.09 on Monday. The firm has a market capitalization of $560.69 million, a P/E ratio of -20.84 and a beta of 0.47. The stock has a 50-day simple moving average of $6.64 and a two-hundred day simple moving average of $7.35. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. B&G Foods, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $11.79.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. On average, equities analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 10.73%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio is currently -23.90%.

B&G Foods Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.