Kornitzer Capital Management Inc. KS Purchases 36,704 Shares of B&G Foods, Inc. $BGS

Kornitzer Capital Management Inc. KS increased its position in shares of B&G Foods, Inc. (NYSE:BGS) by 13.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 303,320 shares of the company’s stock after buying an additional 36,704 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in B&G Foods were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Investors Asset Management of Georgia Inc. GA ADV lifted its position in B&G Foods by 3.1% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 53,791 shares of the company’s stock worth $370,000 after acquiring an additional 1,602 shares during the last quarter. US Bancorp DE increased its stake in shares of B&G Foods by 2.9% in the first quarter. US Bancorp DE now owns 81,823 shares of the company’s stock worth $562,000 after purchasing an additional 2,278 shares during the period. CWM LLC lifted its position in shares of B&G Foods by 61.2% during the 1st quarter. CWM LLC now owns 7,518 shares of the company’s stock worth $52,000 after purchasing an additional 2,855 shares during the last quarter. Signaturefd LLC boosted its stake in B&G Foods by 48.7% during the 2nd quarter. Signaturefd LLC now owns 10,036 shares of the company’s stock valued at $42,000 after purchasing an additional 3,288 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in B&G Foods by 7.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 47,329 shares of the company’s stock valued at $199,000 after buying an additional 3,465 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Trading Up 0.6%

Shares of BGS stock opened at $4.47 on Monday. The firm has a fifty day moving average of $4.48 and a 200-day moving average of $4.67. The stock has a market cap of $357.22 million, a price-to-earnings ratio of -1.58 and a beta of 0.44. B&G Foods, Inc. has a 52-week low of $3.67 and a 52-week high of $8.90. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.89 and a current ratio of 2.93.

B&G Foods (NYSE:BGS) last posted its earnings results on Monday, August 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The business had revenue of $424.43 million during the quarter, compared to the consensus estimate of $427.80 million. During the same period in the previous year, the firm earned $0.08 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. On average, equities research analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 17.0%. The ex-dividend date is Tuesday, September 30th. B&G Foods’s dividend payout ratio is currently -26.86%.

Wall Street Analyst Weigh In

BGS has been the subject of several research reports. Royal Bank Of Canada reduced their price objective on B&G Foods from $6.00 to $5.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of B&G Foods in a report on Tuesday, October 14th. Zacks Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Barclays cut their price objective on shares of B&G Foods from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 15th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, B&G Foods presently has an average rating of “Reduce” and an average price target of $6.10.

About B&G Foods

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.