TrueMark Investments LLC Has $272,000 Position in B&G Foods, Inc. (NYSE:BGS)

TrueMark Investments LLC lowered its position in B&G Foods, Inc. (NYSE:BGS) by 42.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,520 shares of the company’s stock after selling 28,814 shares during the quarter. TrueMark Investments LLC’s holdings in B&G Foods were worth $272,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in B&G Foods by 50.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after buying an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. bought a new stake in B&G Foods during the fourth quarter worth approximately $77,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in B&G Foods during the third quarter valued at approximately $102,000. SBI Securities Co. Ltd. bought a new position in shares of B&G Foods in the fourth quarter valued at approximately $79,000. Finally, Regent Peak Wealth Advisors LLC acquired a new stake in shares of B&G Foods in the fourth quarter worth $81,000. 66.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

B&G Foods Price Performance

NYSE:BGS opened at $6.60 on Thursday. 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 $5.45 and a one year high of $11.79. The company has a fifty day moving average price of $6.64 and a 200 day moving average price of $7.32. The stock has a market cap of $522.23 million, a P/E ratio of -19.41 and a beta of 0.47.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. Analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.52%. The ex-dividend date is Monday, March 31st. B&G Foods’s dividend payout ratio is presently -23.90%.

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.