Raymond James & Associates Has $535,000 Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Raymond James & Associates reduced its stake in B&G Foods, Inc. (NYSE:BGS) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,981 shares of the company’s stock after selling 3,593 shares during the period. Raymond James & Associates owned 0.06% of B&G Foods worth $535,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in B&G Foods in the 3rd quarter valued at about $70,000. SG Americas Securities LLC bought a new stake in shares of B&G Foods during the third quarter worth approximately $104,000. B. Riley Wealth Advisors Inc. grew its position in shares of B&G Foods by 34.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 16,098 shares of the company’s stock valued at $162,000 after purchasing an additional 4,152 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of B&G Foods by 35.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,166 shares of the company’s stock worth $170,000 after purchasing an additional 4,517 shares during the period. Finally, Corton Capital Inc. lifted its holdings in B&G Foods by 59.3% during the 3rd quarter. Corton Capital Inc. now owns 18,894 shares of the company’s stock worth $187,000 after purchasing an additional 7,031 shares during the last quarter. 66.15% of the stock is owned by institutional investors.

B&G Foods Stock Down 1.2 %

BGS stock opened at $10.92 on Friday. The company has a market cap of $863.23 million, a PE ratio of -12.42 and a beta of 0.71. The company has a quick ratio of 0.89, a current ratio of 3.06 and a debt-to-equity ratio of 2.42. B&G Foods, Inc. has a 52 week low of $7.20 and a 52 week high of $16.68. The business has a 50-day simple moving average of $10.81 and a 200 day simple moving average of $10.05.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $578.13 million during the quarter, compared to the consensus estimate of $569.65 million. B&G Foods had a negative net margin of 3.21% and a positive return on equity of 8.68%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. Sell-side analysts anticipate that B&G Foods, Inc. will post 0.83 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.76 annualized dividend and a dividend yield of 6.96%. B&G Foods’s payout ratio is -86.36%.

Analysts Set New Price Targets

A number of brokerages have commented on BGS. Piper Sandler upped their price objective on B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.50.

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.