402,350 Shares in B&G Foods, Inc. $BGS Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 402,350 shares of B&G Foods in the second quarter, worth approximately $1.6 million and representing a 0.50% stake. Institutional investors collectively own 66.15% of the company.
• Analysts remain cautious, with an average rating of “Reduce” and an average price target of $4.00. TD Cowen cut its target to $3.00, while B&G Foods shares recently opened at $3.37 near their 52-week low.
• B&G Foods matched quarterly earnings expectations at $0.06 per share, but revenue fell 9.7% year over year to $383.27 million. The company declared a quarterly dividend of $0.095 per share, implying an annualized yield of approximately 11.3%.

Empowered Funds LLC acquired a new position in B&G Foods, Inc. (NYSE:BGS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 402,350 shares of the company's stock, valued at approximately $1,601,000. Empowered Funds LLC owned 0.50% of B&G Foods at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of B&G Foods by 38.5% during the 2nd quarter. Versant Capital Management Inc now owns 10,578 shares of the company's stock worth $42,000 after acquiring an additional 2,941 shares during the period. Comerica Bank raised its position in shares of B&G Foods by 53.3% in the 4th quarter. Comerica Bank now owns 10,706 shares of the company's stock worth $46,000 after acquiring an additional 3,722 shares in the last quarter. Summit Securities Group LLC lifted its stake in shares of B&G Foods by 37.1% in the 4th quarter. Summit Securities Group LLC now owns 14,400 shares of the company's stock valued at $62,000 after purchasing an additional 3,900 shares during the period. Prudential Financial Inc. lifted its stake in shares of B&G Foods by 5.6% in the 2nd quarter. Prudential Financial Inc. now owns 83,807 shares of the company's stock valued at $355,000 after purchasing an additional 4,447 shares during the period. Finally, Kestra Advisory Services LLC boosted its position in shares of B&G Foods by 29.4% during the first quarter. Kestra Advisory Services LLC now owns 21,765 shares of the company's stock valued at $105,000 after purchasing an additional 4,943 shares in the last quarter. 66.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BGS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of B&G Foods in a research note on Tuesday, August 11th. TD Cowen lowered their price objective on B&G Foods from $4.00 to $3.00 and set a "sell" rating for the company in a research report on Wednesday, August 12th. Barclays dropped their target price on shares of B&G Foods from $5.00 to $4.50 and set an "equal weight" rating on the stock in a report on Thursday, August 13th. Evercore set a $4.50 target price on shares of B&G Foods in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group set a $4.00 price target on shares of B&G Foods in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $4.00.

B&G Foods Stock Performance

Shares of BGS opened at $3.37 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.62 and a debt-to-equity ratio of 5.08. The stock has a market cap of $273.91 million, a P/E ratio of -3.79 and a beta of 0.48. The business's 50 day moving average price is $3.66 and its 200-day moving average price is $4.41. B&G Foods, Inc. has a 52 week low of $3.32 and a 52 week high of $6.38.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $383.27 million during the quarter, compared to analyst estimates of $394.92 million. B&G Foods had a positive return on equity of 10.74% and a negative net margin of 4.00%.The firm's revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS. B&G Foods has set its FY 2026 guidance at 0.575-0.675 EPS. Equities research analysts anticipate that B&G Foods, Inc. will post 0.57 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.095 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.38 annualized dividend and a dividend yield of 11.3%. B&G Foods's dividend payout ratio (DPR) is presently -42.70%.

B&G Foods Company Profile

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source