Gilman Hill Asset Management LLC Invests $215,000 in B&G Foods, Inc. (NYSE:BGS)

Gilman Hill Asset Management LLC acquired a new position in shares of B&G Foods, Inc. (NYSE:BGS) during the first quarter, Holdings Channel reports. The fund acquired 31,250 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BGS. Stratos Wealth Partners LTD. boosted its position in shares of B&G Foods by 12.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock worth $101,000 after purchasing an additional 1,599 shares in the last quarter. Empowered Funds LLC boosted its position in shares of B&G Foods by 5.1% during the 4th quarter. Empowered Funds LLC now owns 331,814 shares of the company’s stock worth $2,286,000 after purchasing an additional 16,194 shares in the last quarter. Rhumbline Advisers boosted its position in shares of B&G Foods by 1.2% during the 4th quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock worth $1,730,000 after purchasing an additional 2,898 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of B&G Foods by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock worth $2,644,000 after purchasing an additional 10,742 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of B&G Foods during the 4th quarter worth about $103,000. Institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of NYSE BGS opened at $4.20 on Friday. B&G Foods, Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $9.68. The stock has a market cap of $334.75 million, a price-to-earnings ratio of -12.34 and a beta of 0.53. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The firm’s 50-day simple moving average is $5.53 and its 200 day simple moving average is $6.35.

B&G Foods (NYSE:BGS) last announced 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 negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $459.40 million. During the same period in the previous year, the business posted $0.18 EPS. B&G Foods’s revenue was down 10.5% compared to the same quarter last year. As a group, research analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 annualized dividend and a dividend yield of 18.12%. B&G Foods’s dividend payout ratio is currently -28.57%.

Analysts Set New Price Targets

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

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