Brevan Howard Capital Management LP Acquires 58,605 Shares of B&G Foods, Inc. (NYSE:BGS)

Brevan Howard Capital Management LP boosted its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 521.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,834 shares of the company's stock after purchasing an additional 58,605 shares during the period. Brevan Howard Capital Management LP owned about 0.09% of B&G Foods worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Freestone Grove Partners LP bought a new position in shares of B&G Foods in the 4th quarter valued at about $91,000. Comerica Bank grew its stake in B&G Foods by 101.3% in the fourth quarter. Comerica Bank now owns 74,054 shares of the company's stock valued at $510,000 after purchasing an additional 37,263 shares in the last quarter. Northern Trust Corp grew its stake in B&G Foods by 10.0% in the fourth quarter. Northern Trust Corp now owns 872,186 shares of the company's stock valued at $6,009,000 after purchasing an additional 79,226 shares in the last quarter. Quarry LP increased its position in shares of B&G Foods by 45,526.9% during the 4th quarter. Quarry LP now owns 11,863 shares of the company's stock worth $82,000 after purchasing an additional 11,837 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of B&G Foods during the 4th quarter worth approximately $925,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Price Performance

NYSE:BGS opened at $4.48 on Friday. B&G Foods, Inc. has a one year low of $4.30 and a one year high of $9.78. The company has a market cap of $354.54 million, a P/E ratio of -13.18 and a beta of 0.74. The firm's fifty day moving average price is $6.62 and its two-hundred day moving average price is $6.79. 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 (NYSE:BGS - Get Free Report) last announced its quarterly 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 company had revenue of $425.40 million during the quarter, compared to analyst estimates of $459.40 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Equities analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 16.96%. B&G Foods's dividend payout ratio (DPR) is presently -23.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BGS. Barclays lowered their target price on shares of B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Thursday. Piper Sandler lowered their price objective on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.

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