Bank of America Corp DE Sells 519,314 Shares of B&G Foods, Inc. $BGS

Bank of America Corp DE lessened its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 43.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 683,212 shares of the company's stock after selling 519,314 shares during the quarter. Bank of America Corp DE owned about 0.84% of B&G Foods worth $3,286,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Comerica Bank grew its stake in shares of B&G Foods by 53.3% in the fourth quarter. Comerica Bank now owns 10,706 shares of the company's stock worth $46,000 after acquiring an additional 3,722 shares during the last quarter. Summit Securities Group LLC increased its stake in B&G Foods by 37.1% during 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 in the last quarter. Prudential Financial Inc. raised its holdings in B&G Foods by 5.6% in the second quarter. Prudential Financial Inc. now owns 83,807 shares of the company's stock worth $355,000 after buying an additional 4,447 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in B&G Foods by 29.4% in the first quarter. Kestra Advisory Services LLC now owns 21,765 shares of the company's stock worth $105,000 after buying an additional 4,943 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of B&G Foods by 91.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,612 shares of the company's stock worth $46,000 after purchasing an additional 5,055 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $3.52 on Monday. The business has a 50-day moving average price of $3.70 and a 200-day moving average price of $4.46. B&G Foods, Inc. has a twelve month low of $3.32 and a twelve month high of $6.38. 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 firm has a market cap of $286.09 million, a price-to-earnings ratio of -3.96 and a beta of 0.49.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $383.27 million for the quarter, compared to the consensus estimate of $394.92 million. B&G Foods had a negative net margin of 4.00% and a positive return on equity of 10.74%. B&G Foods's revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 earnings per share. 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 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.38 annualized dividend and a dividend yield of 10.8%. B&G Foods's dividend payout ratio is currently -42.70%.

B&G Foods 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.

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