Jump Financial LLC Buys New Shares in B&G Foods, Inc. (NYSE:BGS)

Jump Financial LLC bought a new stake in B&G Foods, Inc. (NYSE:BGS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,609 shares of the company’s stock, valued at approximately $108,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. increased its stake in B&G Foods by 12.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock valued at $101,000 after purchasing an additional 1,599 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after purchasing an additional 2,658 shares during the last quarter. Rhumbline Advisers increased its stake in B&G Foods by 1.2% in the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock valued at $1,730,000 after purchasing an additional 2,898 shares during the last quarter. Geode Capital Management LLC increased its stake in B&G Foods by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock valued at $12,468,000 after purchasing an additional 5,646 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in B&G Foods by 260.9% during the fourth quarter. Fifth Third Bancorp now owns 13,500 shares of the company’s stock worth $93,000 after acquiring an additional 9,759 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their price target on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research note 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.10.

B&G Foods Price Performance

BGS stock opened at $6.78 on Tuesday. 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 1 year low of $5.45 and a 1 year high of $11.72. The firm has a market cap of $536.56 million, a P/E ratio of -19.94 and a beta of 0.74. The stock has a 50-day simple moving average of $6.76 and a 200-day simple moving average of $6.93.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.21%. B&G Foods’s dividend payout ratio (DPR) is currently -23.90%.

B&G Foods Company 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.