Jacobs Levy Equity Management Inc. Acquires New Shares in B&G Foods, Inc. (NYSE:BGS)

Jacobs Levy Equity Management Inc. acquired a new stake in shares of B&G Foods, Inc. (NYSE:BGS) in the fourth quarter, Holdings Channel reports. The fund acquired 62,108 shares of the company’s stock, valued at approximately $428,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BGS. PNC Financial Services Group Inc. boosted its position in B&G Foods by 50.6% during the 4th 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 period. Independent Wealth Network Inc. acquired a new stake in B&G Foods in the 4th quarter valued at approximately $77,000. SBI Securities Co. Ltd. acquired a new stake in B&G Foods in the 4th quarter valued at approximately $79,000. Regent Peak Wealth Advisors LLC acquired a new stake in B&G Foods in the 4th quarter valued at approximately $81,000. Finally, Prism Advisors Inc. acquired a new stake in B&G Foods in the 4th quarter valued at approximately $82,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of NYSE BGS opened at $4.43 on Friday. The stock has a fifty day moving average price of $6.32 and a two-hundred day moving average price of $6.64. 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 has a market cap of $353.11 million, a P/E ratio of -13.01 and a beta of 0.74. B&G Foods, Inc. has a 1 year low of $4.06 and a 1 year high of $9.78.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The firm had revenue of $425.40 million for the quarter, compared to the consensus estimate of $459.40 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 earnings per share. Research analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 17.18%. The ex-dividend date is Monday, June 30th. B&G Foods’s payout ratio is currently -28.57%.

Wall Street Analyst Weigh In

Several analysts recently commented on BGS shares. Barclays lowered their target price on 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 lowered their target price on 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 investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, B&G Foods presently has a consensus rating of “Hold” and a consensus target price of $7.30.

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.