American Century Companies Inc. Trims Holdings 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. trimmed its position in B&G Foods, Inc. (NYSE:BGS - Free Report) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,073,246 shares of the company's stock after selling 153,460 shares during the period. American Century Companies Inc. owned about 2.60% of B&G Foods worth $14,243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BGS. Caitong International Asset Management Co. Ltd increased its stake in shares of B&G Foods by 3,217.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company's stock valued at $35,000 after acquiring an additional 4,891 shares during the last quarter. Signaturefd LLC increased its stake in shares of B&G Foods by 930.2% during the 1st quarter. Signaturefd LLC now owns 6,748 shares of the company's stock valued at $46,000 after acquiring an additional 6,093 shares during the last quarter. CWM LLC increased its stake in shares of B&G Foods by 61.2% during the 1st quarter. CWM LLC now owns 7,518 shares of the company's stock valued at $52,000 after acquiring an additional 2,855 shares during the last quarter. Sigma Planning Corp acquired a new position in shares of B&G Foods during the 1st quarter valued at about $69,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of B&G Foods during the 1st quarter valued at about $80,000. Institutional investors and hedge funds own 66.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BGS. Royal Bank Of Canada dropped their price objective 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. Piper Sandler dropped their target price on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Barclays dropped their target price on shares of 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $6.10.

B&G Foods Stock Down 1.4%

Shares of B&G Foods stock traded down $0.07 on Thursday, hitting $4.47. 1,807,168 shares of the company's stock traded hands, compared to its average volume of 2,626,362. The stock has a market cap of $357.20 million, a P/E ratio of -1.58 and a beta of 0.48. The company has a quick ratio of 0.89, a current ratio of 2.93 and a debt-to-equity ratio of 3.96. The firm's 50-day moving average is $4.30 and its 200 day moving average is $5.33. B&G Foods, Inc. has a 52-week low of $3.67 and a 52-week high of $9.44.

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

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 17.0%. The ex-dividend date is Tuesday, September 30th. B&G Foods's dividend payout ratio is -26.86%.

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.