Point72 Asia Singapore Pte. Ltd. Decreases Stock Position in B&G Foods, Inc. (NYSE:BGS)

Point72 Asia Singapore Pte. Ltd. lessened its stake in B&G Foods, Inc. (NYSE:BGS) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,455 shares of the company’s stock after selling 2,988 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in B&G Foods were worth $58,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in B&G Foods by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock worth $23,106,000 after purchasing an additional 744,898 shares during the period. Invesco Ltd. grew its holdings in shares of B&G Foods by 55.7% in the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company’s stock worth $7,805,000 after purchasing an additional 405,033 shares during the last quarter. Barclays PLC increased its stake in shares of B&G Foods by 267.5% in the fourth quarter. Barclays PLC now owns 480,312 shares of the company’s stock worth $3,308,000 after buying an additional 349,619 shares during the period. American Century Companies Inc. increased its stake in shares of B&G Foods by 13.7% in the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock worth $15,342,000 after buying an additional 267,455 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in B&G Foods during the 4th quarter valued at $1,132,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

NYSE:BGS opened at $4.43 on Monday. B&G Foods, Inc. has a twelve month low of $4.06 and a twelve month high of $9.78. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The firm’s fifty day simple moving average is $6.32 and its 200 day simple moving average is $6.63. The stock has a market cap of $353.11 million, a P/E ratio of -13.01 and a beta of 0.74.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). 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 $425.40 million during the quarter, compared to analysts’ expectations of $459.40 million. During the same period in the previous year, the company earned $0.18 earnings per share. B&G Foods’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, research analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 17.18%. B&G Foods’s dividend payout ratio is currently -28.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their price target on shares of B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Barclays dropped their target price on shares of B&G Foods from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, B&G Foods presently has a consensus rating of “Hold” and a consensus target price of $7.30.

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.