Barclays PLC Acquires 349,619 Shares of B&G Foods, Inc. (NYSE:BGS)

Barclays PLC increased its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 267.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 480,312 shares of the company's stock after acquiring an additional 349,619 shares during the quarter. Barclays PLC owned approximately 0.61% of B&G Foods worth $3,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BGS. PNC Financial Services Group Inc. increased its position 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 valued at $55,000 after buying an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. acquired a new position in shares of B&G Foods in the 4th quarter valued at about $77,000. SBI Securities Co. Ltd. acquired a new position in shares of B&G Foods during the 4th quarter valued at $79,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of B&G Foods during the 4th quarter valued at about $81,000. Finally, Prism Advisors Inc. purchased a new position in B&G Foods in the 4th quarter worth approximately $82,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

Shares of NYSE:BGS traded up $0.02 during midday trading on Wednesday, hitting $6.89. The company's stock had a trading volume of 1,467,239 shares, compared to its average volume of 1,461,556. B&G Foods, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $11.72. The stock's 50 day simple moving average is $6.77 and its 200 day simple moving average is $6.93. The stock has a market capitalization of $545.26 million, a price-to-earnings ratio of -20.26 and a beta of 0.74. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

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

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.03%. 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 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 research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.