Inceptionr LLC Acquires Shares of 23,469 B&G Foods, Inc. (NYSE:BGS)

Inceptionr LLC acquired a new stake in shares of B&G Foods, Inc. (NYSE:BGS) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 23,469 shares of the company’s stock, valued at approximately $162,000.

Several other institutional investors have also added to or reduced their stakes in the business. Stratos Wealth Partners LTD. lifted its holdings in shares of B&G Foods by 12.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock worth $101,000 after buying an additional 1,599 shares in the last quarter. Versor Investments LP lifted its holdings in shares of B&G Foods by 13.4% in the third quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after buying an additional 2,862 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of B&G Foods by 1.2% in the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock worth $1,730,000 after buying an additional 2,898 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of B&G Foods by 1.3% in the third quarter. Foundry Partners LLC now owns 245,235 shares of the company’s stock worth $2,178,000 after buying an additional 3,235 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of B&G Foods by 1.9% in the third quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock worth $1,612,000 after buying an additional 3,359 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Stock Up 3.1 %

BGS stock opened at $7.89 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The company’s 50 day moving average is $6.55 and its 200 day moving average is $7.43. The stock has a market cap of $624.00 million, a price-to-earnings ratio of -23.19 and a beta of 0.47. B&G Foods, Inc. has a 1-year low of $5.45 and a 1-year high of $11.79.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $551.57 million for the quarter, compared to analysts’ expectations of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. Sell-side analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 9.64%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is -23.90%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, B&G Foods has an average rating of “Hold” and an average price target of $8.10.

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. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.