B&G Foods, Inc. (NYSE:BGS) Shares Sold by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly reduced its stake in B&G Foods by 75.3%, now holding only 20,837 shares valued at approximately $143,000.
• Several hedge funds increased their holdings in B&G Foods, with Signaturefd LLC raising its stake by 930.2%, now owning 6,748 shares valued at $46,000.
• B&G Foods reported earnings of $0.04 per share for the last quarter, missing estimates, and announced a quarterly dividend of $0.19 per share with a yield of 17.7%.

XTX Topco Ltd lowered its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 75.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,837 shares of the company's stock after selling 63,653 shares during the quarter. XTX Topco Ltd's holdings in B&G Foods were worth $143,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of B&G Foods by 930.2% in the first quarter. Signaturefd LLC now owns 6,748 shares of the company's stock valued at $46,000 after purchasing an additional 6,093 shares during the last quarter. CWM LLC increased its holdings in shares of B&G Foods by 61.2% in the first quarter. CWM LLC now owns 7,518 shares of the company's stock valued at $52,000 after purchasing an additional 2,855 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of B&G Foods in the first quarter valued at approximately $69,000. Teacher Retirement System of Texas acquired a new stake in shares of B&G Foods in the first quarter valued at approximately $80,000. Finally, Quarry LP increased its holdings in shares of B&G Foods by 45,526.9% in the fourth quarter. Quarry LP now owns 11,863 shares of the company's stock valued at $82,000 after purchasing an additional 11,837 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BGS shares. Piper Sandler cut their price target on B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Royal Bank Of Canada cut their price target on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Finally, Barclays cut their price target on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, B&G Foods currently has a consensus rating of "Hold" and an average target price of $6.10.

B&G Foods Price Performance

BGS stock opened at $4.30 on Thursday. The business has a fifty day moving average of $4.30 and a two-hundred day moving average of $5.48. 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 stock has a market cap of $344 million, a price-to-earnings ratio of -1.52 and a beta of 0.48. 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 posted its earnings results on Monday, August 4th. The company reported $0.04 earnings per share (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 analyst estimates of $427.80 million. B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%. B&G Foods's revenue was down 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. As a group, research analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 17.7%. The ex-dividend date is Tuesday, September 30th. B&G Foods's dividend payout ratio (DPR) is currently -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.

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