Point72 Asia Singapore Pte. Ltd. Sells 2,988 Shares of B&G Foods, Inc. (NYSE:BGS)

Point72 Asia Singapore Pte. Ltd. lessened its position in B&G Foods, Inc. (NYSE:BGS) by 26.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,455 shares of the company’s stock after selling 2,988 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in B&G Foods were worth $58,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in shares of B&G Foods by 12.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock valued at $101,000 after acquiring an additional 1,599 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of B&G Foods by 5.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,158 shares of the company’s stock worth $215,000 after purchasing an additional 1,718 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of B&G Foods by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,463 shares of the company’s stock worth $306,000 after purchasing an additional 1,900 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after purchasing an additional 2,658 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of B&G Foods by 1.2% during the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock valued at $1,730,000 after purchasing an additional 2,898 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of BGS opened at $4.43 on Monday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods, Inc. has a one year low of $4.06 and a one year high of $9.78. The firm has a market capitalization of $353.11 million, a P/E ratio of -13.01 and a beta of 0.74. The business has a fifty day moving average of $6.32 and a 200 day moving average of $6.63.

B&G Foods (NYSE:BGS) last announced its earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $425.40 million during 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 company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. As a group, sell-side analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

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

Analyst Ratings Changes

BGS has been the subject of several research analyst reports. Barclays reduced their price objective on B&G Foods from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Piper Sandler dropped their price target on shares of B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a 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 company. According to data from MarketBeat, B&G Foods presently has an average rating of “Hold” and an average price target of $7.30.

B&G Foods Company 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.