Trexquant Investment LP Buys Shares of 507,711 B&G Foods, Inc. $BGS

Key Points

• Trexquant Investment LP acquired 507,711 shares of B&G Foods, Inc. for approximately $3.5 million, representing a 0.64% ownership stake.
• B&G Foods reported quarterly earnings of $0.04 per share, missing estimates, with revenue at $424.43 million, down 4.5% year-over-year.
• The company announced a quarterly dividend of $0.19 per share, yielding 17.4%, with an ex-dividend date set for September 30th.

Trexquant Investment LP acquired a new position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 507,711 shares of the company's stock, valued at approximately $3,488,000. Trexquant Investment LP owned approximately 0.64% of B&G Foods at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Investors Asset Management of Georgia Inc. GA ADV raised its stake in B&G Foods by 3.1% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 53,791 shares of the company's stock worth $370,000 after acquiring an additional 1,602 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in B&G Foods by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,463 shares of the company's stock worth $306,000 after purchasing an additional 1,900 shares during the period. SummerHaven Investment Management LLC increased its position in B&G Foods by 2.3% in the first quarter. SummerHaven Investment Management LLC now owns 100,737 shares of the company's stock worth $692,000 after purchasing an additional 2,219 shares during the period. US Bancorp DE increased its position in B&G Foods by 2.9% in the first quarter. US Bancorp DE now owns 81,823 shares of the company's stock worth $562,000 after purchasing an additional 2,278 shares during the period. Finally, CWM LLC increased its position in B&G Foods by 61.2% in the first quarter. CWM LLC now owns 7,518 shares of the company's stock worth $52,000 after purchasing an additional 2,855 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada decreased their target price on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Barclays decreased their target price on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $6.10.

B&G Foods Stock Up 0.3%

Shares of NYSE:BGS traded up $0.02 during trading on Friday, hitting $4.67. 2,041,949 shares of the company's stock traded hands, compared to its average volume of 2,029,767. B&G Foods, Inc. has a 52 week low of $3.67 and a 52 week high of $9.44. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96. The company has a market cap of $373.20 million, a price-to-earnings ratio of -1.65 and a beta of 0.46. The company has a 50-day moving average price of $4.32 and a 200-day moving average price of $5.26.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The business had revenue of $424.43 million for the quarter, compared to the consensus estimate of $427.80 million. During the same quarter last year, the firm earned $0.08 EPS. The company's revenue for the quarter was down 4.5% on a year-over-year basis. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. As a group, research analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 16.3%. The ex-dividend date is Tuesday, September 30th. B&G Foods's payout ratio is -26.86%.

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.