Victory Capital Management Inc. Purchases 37,388 Shares of B&G Foods, Inc. (NYSE:BGS)

Victory Capital Management Inc. increased its position in B&G Foods, Inc. (NYSE:BGS) by 155.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,385 shares of the company’s stock after acquiring an additional 37,388 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of B&G Foods worth $496,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BGS. Vanguard Group Inc. grew its position in B&G Foods by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock worth $105,453,000 after purchasing an additional 1,190,116 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in B&G Foods in the 1st quarter worth $2,835,000. Trexquant Investment LP grew its position in B&G Foods by 368.1% in the 4th quarter. Trexquant Investment LP now owns 245,783 shares of the company’s stock worth $2,581,000 after purchasing an additional 193,281 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in B&G Foods by 11.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock worth $18,450,000 after purchasing an additional 181,724 shares during the last quarter. Finally, Cove Private Wealth LLC acquired a new stake in B&G Foods in the 2nd quarter worth $929,000. Institutional investors own 66.15% of the company’s stock.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares in the company, valued at $550,571.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

BGS has been the topic of several research analyst reports. Barclays decreased their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Piper Sandler decreased their target price on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. StockNews.com lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 target price on shares of B&G Foods in a research report on Wednesday, August 7th. Finally, Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.67.

B&G Foods Price Performance

NYSE:BGS opened at $9.18 on Monday. The firm has a market cap of $725.69 million, a PE ratio of -6.38 and a beta of 0.60. B&G Foods, Inc. has a 12 month low of $7.20 and a 12 month high of $11.97. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. The company’s 50-day moving average price is $8.51 and its two-hundred day moving average price is $9.38.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. On average, equities analysts anticipate that B&G Foods, Inc. will post 0.74 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 8.28%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

About B&G Foods

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