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

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BGS. Dana Investment Advisors Inc. boosted its holdings in B&G Foods by 20.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock worth $5,269,000 after buying an additional 129,202 shares during the period. Raymond James Financial Inc. bought a new position in B&G Foods in the 4th quarter worth approximately $1,132,000. Barclays PLC boosted its holdings in B&G Foods by 310.1% in the 3rd quarter. Barclays PLC now owns 130,693 shares of the company's stock worth $1,160,000 after buying an additional 98,824 shares during the period. Wedge Capital Management L L P NC bought a new position in B&G Foods in the 4th quarter worth approximately $857,000. Finally, Intech Investment Management LLC boosted its holdings in B&G Foods by 130.9% in the 4th quarter. Intech Investment Management LLC now owns 108,675 shares of the company's stock worth $749,000 after buying an additional 61,619 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Up 3.4%

BGS stock traded up $0.15 during trading on Thursday, hitting $4.41. 1,095,767 shares of the stock traded hands, compared to its average volume of 1,590,726. B&G Foods, Inc. has a 1 year low of $4.06 and a 1 year high of $9.78. The firm's 50 day moving average is $6.45 and its two-hundred day moving average is $6.71. The stock has a market cap of $351.51 million, a price-to-earnings ratio of -12.93 and a beta of 0.74. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.12). The company had revenue of $425.40 million for the quarter, compared to analysts' expectations 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 business's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. On average, sell-side analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th 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 17.25%. The ex-dividend date is Monday, June 30th. B&G Foods's dividend payout ratio (DPR) is -28.57%.

Wall Street Analysts Forecast Growth

BGS has been the topic of several recent analyst reports. Piper Sandler lowered their target price 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, May 8th. Barclays dropped their target price on shares of B&G Foods from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, B&G Foods presently has a consensus rating of "Hold" and a consensus price target of $7.30.

About B&G Foods

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.