American Century Companies Inc. Has $14.24 Million Stock Position in B&G Foods, Inc. $BGS

Key Points

• American Century Companies Inc. reduced its stake in B&G Foods, Inc. by 6.9% in the first quarter, now holding approximately 2.60% of the company worth $14.24 million.
• B&G Foods reported a quarterly earnings loss, with earnings per share (EPS) of $0.04, missing estimates of $0.07 and a revenue decline of 4.5% year-over-year.
• The company declared a quarterly dividend of $0.19 per share, which equates to an annualized yield of 16.8%, with payment scheduled for October 27th.

American Century Companies Inc. reduced its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,073,246 shares of the company's stock after selling 153,460 shares during the period. American Century Companies Inc. owned 2.60% of B&G Foods worth $14,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BGS. Dimensional Fund Advisors LP increased its stake in B&G Foods by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock valued at $23,106,000 after buying an additional 744,898 shares during the last quarter. Two Sigma Investments LP increased its stake in B&G Foods by 113.2% in the 4th quarter. Two Sigma Investments LP now owns 830,817 shares of the company's stock valued at $5,724,000 after buying an additional 441,117 shares during the last quarter. Barclays PLC increased its stake in B&G Foods by 267.5% in the 4th quarter. Barclays PLC now owns 480,312 shares of the company's stock valued at $3,308,000 after buying an additional 349,619 shares during the last quarter. Two Sigma Advisers LP increased its stake in B&G Foods by 279.0% in the 4th quarter. Two Sigma Advisers LP now owns 458,200 shares of the company's stock valued at $3,157,000 after buying an additional 337,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in B&G Foods by 31.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,340,836 shares of the company's stock valued at $9,211,000 after buying an additional 321,414 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank Of Canada cut their price target on shares of B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Barclays cut their price target on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Finally, Piper Sandler cut their price target on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, B&G Foods has an average rating of "Reduce" and a consensus price target of $6.10.

B&G Foods Stock Performance

Shares of NYSE:BGS traded up $0.07 on Friday, hitting $4.52. The company had a trading volume of 1,542,790 shares, compared to its average volume of 2,510,696. B&G Foods, Inc. has a 1-year low of $3.67 and a 1-year high of $9.44. The stock has a market cap of $361.20 million, a price-to-earnings ratio of -1.60 and a beta of 0.46. The stock has a 50 day moving average price of $4.31 and a 200 day moving average price of $5.31. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.04 EPS 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 company had revenue of $424.43 million during the quarter, compared to analyst estimates of $427.80 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. B&G Foods'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. Analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, September 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 16.8%. The ex-dividend date is Tuesday, September 30th. B&G Foods's payout ratio is currently -26.86%.

B&G Foods Company 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.