Y Intercept Hong Kong Ltd Invests $178,000 in B&G Foods, Inc. $BGS

Y Intercept Hong Kong Ltd purchased a new position in shares of B&G Foods, Inc. (NYSE:BGS) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 42,020 shares of the company’s stock, valued at approximately $178,000.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in B&G Foods by 261.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 159,670 shares of the company’s stock worth $706,000 after buying an additional 115,508 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of B&G Foods by 13.8% in the second quarter. Kornitzer Capital Management Inc. KS now owns 303,320 shares of the company’s stock worth $1,283,000 after acquiring an additional 36,704 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of B&G Foods during the second quarter worth approximately $889,000. Sequoia Financial Advisors LLC purchased a new stake in shares of B&G Foods during the second quarter worth approximately $66,000. Finally, CWM LLC raised its stake in B&G Foods by 221.4% in the 2nd quarter. CWM LLC now owns 24,162 shares of the company’s stock valued at $102,000 after purchasing an additional 16,644 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on BGS shares. Barclays decreased their price objective on B&G Foods from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of B&G Foods in a research note on Wednesday. Royal Bank Of Canada dropped their price objective on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Finally, Zacks Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.67.

B&G Foods Trading Down 7.0%

Shares of BGS stock opened at $4.62 on Monday. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96. B&G Foods, Inc. has a twelve month low of $3.67 and a twelve month high of $8.10. The company’s 50-day moving average price is $4.43 and its 200-day moving average price is $4.50. The stock has a market cap of $369.09 million, a price-to-earnings ratio of -1.63 and a beta of 0.43.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $439.30 million during the quarter, compared to analysts’ expectations of $435.47 million. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. B&G Foods’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. As a group, equities analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 16.5%. The ex-dividend date of this dividend is Wednesday, December 31st. B&G Foods’s payout ratio is presently -24.05%.

B&G Foods 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.