Bridgeway Capital Management LLC Grows Holdings in B&G Foods, Inc. (NYSE:BGS)

Bridgeway Capital Management LLC boosted its stake in B&G Foods, Inc. (NYSE:BGS - Free Report) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 615,114 shares of the company's stock after acquiring an additional 82,494 shares during the period. Bridgeway Capital Management LLC owned 0.78% of B&G Foods worth $4,238,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BGS. PNC Financial Services Group Inc. grew its holdings in 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 purchasing an additional 2,658 shares during the period. Independent Wealth Network Inc. purchased a new position in shares of B&G Foods during the 4th quarter valued at approximately $77,000. SBI Securities Co. Ltd. acquired a new stake in shares of B&G Foods in the fourth quarter valued at approximately $79,000. Regent Peak Wealth Advisors LLC acquired a new position in B&G Foods during the 4th quarter worth $81,000. Finally, Prism Advisors Inc. acquired a new position in B&G Foods during the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 66.15% of the company's stock.

Analyst Ratings Changes

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

B&G Foods Stock Down 1.3%

BGS traded down $0.06 during trading hours on Tuesday, hitting $4.44. 1,071,645 shares of the company's stock were exchanged, compared to its average volume of 1,576,831. B&G Foods, Inc. has a 1-year low of $4.30 and a 1-year high of $9.78. The stock has a market cap of $354.30 million, a price-to-earnings ratio of -13.06 and a beta of 0.74. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock's 50-day moving average is $6.57 and its two-hundred day moving average is $6.75.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.12). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $425.40 million during the quarter, compared to the consensus estimate of $459.40 million. During the same quarter last year, the firm earned $0.18 earnings per share. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed 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 was Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 17.12%. B&G Foods's dividend payout ratio is -28.57%.

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.