Empowered Funds LLC bought a new position in B&G Foods, Inc. (NYSE:BGS – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 402,350 shares of the company’s stock, valued at approximately $1,601,000.
Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of B&G Foods by 324.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,707,044 shares of the company’s stock valued at $15,940,000 after acquiring an additional 2,833,090 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in B&G Foods by 26.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,377,381 shares of the company’s stock worth $14,523,000 after acquiring an additional 705,958 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 valued at $10,086,000 after acquiring an additional 119,362 shares in the last quarter. Geode Capital Management LLC lifted its position in B&G Foods by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,921,485 shares of the company’s stock valued at $8,264,000 after acquiring an additional 29,498 shares in the last quarter. Finally, Millennium Management LLC lifted its position in 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 valued at $12,970,000 after acquiring an additional 1,875,589 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on the company. Jefferies Financial Group set a $4.00 target price on B&G Foods in a report on Wednesday, July 22nd. Evercore set a $4.50 price objective on B&G Foods in a research report on Wednesday, August 12th. Barclays reduced their price objective on B&G Foods from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Thursday, August 13th. TD Cowen decreased their target price on B&G Foods from $4.00 to $3.00 and set a “sell” rating for the company in a research report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of B&G Foods in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $4.00.
B&G Foods Trading Down 2.3%
NYSE:BGS opened at $3.37 on Friday. The company has a market cap of $273.91 million, a PE ratio of -3.79 and a beta of 0.48. The company has a current ratio of 1.62, a quick ratio of 1.09 and a debt-to-equity ratio of 5.08. The company has a 50 day simple moving average of $3.66 and a two-hundred day simple moving average of $4.41. B&G Foods, Inc. has a 12 month low of $3.32 and a 12 month high of $6.38.
B&G Foods (NYSE:BGS – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $383.27 million for the quarter, compared to analysts’ expectations of $394.92 million. B&G Foods had a positive return on equity of 10.74% and a negative net margin of 4.00%.The company’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 EPS. B&G Foods has set its FY 2026 guidance at 0.575-0.675 EPS. Research analysts forecast that B&G Foods, Inc. will post 0.57 earnings per share for the current year.
B&G Foods Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.38 dividend on an annualized basis and a yield of 11.3%. B&G Foods’s dividend payout ratio is currently -42.70%.
B&G Foods Company 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.
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