B&G Foods, Inc. (NYSE:BGS) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 63.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,918 shares of the company's stock after selling 69,543 shares during the period. Cubist Systematic Strategies LLC owned 0.05% of B&G Foods worth $282,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of B&G Foods by 50.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after purchasing an additional 2,658 shares during the last quarter. Independent Wealth Network Inc. acquired a new stake in shares of B&G Foods during the fourth quarter worth $77,000. SBI Securities Co. Ltd. acquired a new stake in shares of B&G Foods during the fourth quarter worth $79,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of B&G Foods during the fourth quarter worth $81,000. Finally, Prism Advisors Inc. acquired a new stake in shares of B&G Foods during the fourth quarter worth $82,000. Hedge funds and other institutional investors own 66.15% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BGS shares. Piper Sandler decreased their price objective on B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Barclays decreased their price objective on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to MarketBeat.com, B&G Foods currently has an average rating of "Hold" and an average price target of $7.30.

B&G Foods Trading Down 0.9%

B&G Foods stock traded down $0.04 during midday trading on Friday, reaching $4.02. The stock had a trading volume of 1,847,451 shares, compared to its average volume of 1,628,073. B&G Foods, Inc. has a twelve month low of $3.97 and a twelve month high of $9.74. The stock has a market capitalization of $320.39 million, a PE ratio of -11.81 and a beta of 0.74. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The stock's 50-day simple moving average is $6.01 and its 200 day simple moving average is $6.50.

B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.12). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $459.40 million. During the same quarter in the previous year, the business posted $0.18 EPS. B&G Foods's revenue was down 10.5% compared to the same quarter last year. Analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 18.93%. The ex-dividend date is Monday, June 30th. B&G Foods's payout ratio is currently -28.57%.

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.