MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in B&G Foods, Inc. $BGS

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. significantly increased its stake in B&G Foods, acquiring 2,220,473 additional shares, resulting in a total of approximately 2.84% ownership valued at $15.56 million.
• B&G Foods reported a quarterly earnings miss, with earnings per share of $0.04, falling short of the $0.07 consensus estimate, and a revenue decline of 4.5% year-over-year.
• The company declared a quarterly dividend of $0.19, reflecting a substantial annualized yield of 16.5%, despite a negative dividend payout ratio of -26.86%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 4,994.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,264,936 shares of the company's stock after acquiring an additional 2,220,473 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.84% of B&G Foods worth $15,560,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of BGS. Cubist Systematic Strategies LLC boosted its position in B&G Foods by 1,574.4% during the first quarter. Cubist Systematic Strategies LLC now owns 685,118 shares of the company's stock valued at $4,707,000 after acquiring an additional 644,200 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of B&G Foods during the first quarter valued at about $3,488,000. Two Sigma Investments LP raised its holdings in shares of B&G Foods by 113.2% during the fourth quarter. Two Sigma Investments LP now owns 830,817 shares of the company's stock valued at $5,724,000 after purchasing an additional 441,117 shares during the period. Two Sigma Advisers LP raised its holdings in shares of B&G Foods by 279.0% during the fourth quarter. Two Sigma Advisers LP now owns 458,200 shares of the company's stock valued at $3,157,000 after purchasing an additional 337,300 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of B&G Foods by 31.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,340,836 shares of the company's stock valued at $9,211,000 after purchasing an additional 321,414 shares during the period. Institutional investors own 66.15% of the company's stock.

Wall Street Analysts Forecast Growth

BGS has been the topic of several research reports. Barclays dropped their price objective on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Royal Bank Of Canada decreased 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. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $6.10.

B&G Foods Price Performance

Shares of B&G Foods stock traded down $0.10 on Friday, hitting $4.51. 1,844,966 shares of the company traded hands, compared to its average volume of 1,973,981. The company has a market cap of $360.82 million, a P/E ratio of -1.59 and a beta of 0.46. The firm's 50-day simple moving average is $4.33 and its 200 day simple moving average is $5.18. B&G Foods, Inc. has a 12-month low of $3.67 and a 12-month 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.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The firm had revenue of $424.43 million during 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%. B&G Foods's revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 EPS. 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 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 16.9%. The ex-dividend date of this dividend is Tuesday, September 30th. B&G Foods's dividend payout ratio (DPR) 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.