B&G Foods, Inc. (NYSE:BGS) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its stake in B&G Foods, Inc. (NYSE:BGS) by 63.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,918 shares of the company’s stock after selling 69,543 shares during the quarter. Cubist Systematic Strategies LLC owned 0.05% of B&G Foods worth $282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of B&G Foods by 50.6% in 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 last quarter. Independent Wealth Network Inc. purchased a new position in shares of B&G Foods in the 4th quarter valued at approximately $77,000. SBI Securities Co. Ltd. purchased a new position in shares of B&G Foods in the 4th quarter valued at approximately $79,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of B&G Foods in the fourth quarter valued at approximately $81,000. Finally, Prism Advisors Inc. purchased a new stake in shares of B&G Foods in the fourth quarter valued at approximately $82,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Down 0.8%

BGS opened at $4.43 on Friday. The business’s fifty day moving average is $6.32 and its two-hundred day moving average is $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 company has a market cap of $353.11 million, a price-to-earnings ratio of -13.01 and a beta of 0.74. B&G Foods, Inc. has a one year low of $4.06 and a one year high of $9.78.

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

B&G Foods Dividend Announcement

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 is Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a yield of 17.18%. B&G Foods’s payout ratio is -28.57%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BGS shares. Barclays decreased their price target on B&G Foods from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Piper Sandler decreased their price target on B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.30.

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.