B&G Foods, Inc. (NYSE:BGS) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its position in shares of B&G Foods, Inc. (NYSE:BGSGet Rating) by 5.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,352 shares of the company’s stock after buying an additional 486 shares during the quarter. Mutual of America Capital Management LLC’s holdings in B&G Foods were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its stake in shares of B&G Foods by 8.9% during the 4th quarter. State Street Corp now owns 3,224,559 shares of the company’s stock worth $100,569,000 after buying an additional 262,182 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of B&G Foods by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,444,603 shares of the company’s stock worth $44,393,000 after buying an additional 57,780 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of B&G Foods by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,079,541 shares of the company’s stock worth $33,174,000 after buying an additional 11,158 shares during the last quarter. Capital Management Corp VA raised its stake in shares of B&G Foods by 2.3% during the 4th quarter. Capital Management Corp VA now owns 557,388 shares of the company’s stock worth $17,129,000 after buying an additional 12,715 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of B&G Foods by 1.5% during the 4th quarter. Advisors Asset Management Inc. now owns 508,386 shares of the company’s stock worth $15,623,000 after buying an additional 7,593 shares during the last quarter. Institutional investors and hedge funds own 64.72% of the company’s stock.

B&G Foods Trading Up 1.8 %

Shares of BGS stock opened at $25.16 on Tuesday. The company has a current ratio of 3.46, a quick ratio of 1.00 and a debt-to-equity ratio of 2.50. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 25.94 and a beta of 0.26. The firm has a 50-day moving average price of $23.48 and a 200 day moving average price of $26.56. B&G Foods, Inc. has a twelve month low of $21.05 and a twelve month high of $34.27.

B&G Foods (NYSE:BGSGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The business had revenue of $532.41 million during the quarter, compared to analysts’ expectations of $512.02 million. B&G Foods had a net margin of 3.08% and a return on equity of 12.91%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. Research analysts forecast that B&G Foods, Inc. will post 1.64 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Thursday, June 30th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 7.55%. The ex-dividend date was Wednesday, June 29th. B&G Foods’s dividend payout ratio (DPR) is 195.88%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BGS shares. Piper Sandler raised shares of B&G Foods from an “underweight” rating to a “neutral” rating and cut their target price for the company from $25.00 to $23.00 in a research note on Monday, June 13th. StockNews.com downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Monday, May 9th.

B&G Foods Company Profile

(Get Rating)

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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

Further Reading

Institutional Ownership by Quarter for B&G Foods (NYSE:BGS)

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