Charles Schwab Investment Management Inc. Grows Position in B&G Foods, Inc. $BGS

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in B&G Foods, Inc. by 31.5%, owning 1,340,836 shares valued at approximately $9.21 million as of the latest SEC filing.
• B&G Foods recently reported earnings of $0.04 EPS, falling short of analyst expectations, with a revenue decrease of 4.5% compared to the previous year.
• The company also announced a quarterly dividend of $0.19 per share, resulting in a annualized yield of 16.8% despite a negative net margin of 12.02%.

Charles Schwab Investment Management Inc. boosted its stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 31.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,340,836 shares of the company's stock after acquiring an additional 321,414 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.69% of B&G Foods worth $9,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in B&G Foods by 28.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock valued at $23,106,000 after acquiring an additional 744,898 shares during the period. Northern Trust Corp raised its position in B&G Foods by 10.0% during the 4th quarter. Northern Trust Corp now owns 872,186 shares of the company's stock valued at $6,009,000 after purchasing an additional 79,226 shares during the last quarter. Two Sigma Investments LP raised its position in shares of B&G Foods by 113.2% in the 4th quarter. Two Sigma Investments LP now owns 830,817 shares of the company's stock worth $5,724,000 after acquiring an additional 441,117 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of B&G Foods by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 789,956 shares of the company's stock worth $5,427,000 after acquiring an additional 97,209 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of B&G Foods by 15.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 615,114 shares of the company's stock worth $4,238,000 after acquiring an additional 82,494 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BGS has been the subject of several research reports. Piper Sandler decreased their target price on 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. Barclays decreased their target price on 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. Finally, Royal Bank Of Canada reduced their price objective on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $6.10.

B&G Foods Stock Performance

Shares of BGS traded down $0.07 during trading hours on Thursday, hitting $4.47. The stock had a trading volume of 1,807,168 shares, compared to its average volume of 2,626,362. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89. B&G Foods, Inc. has a 12 month low of $3.67 and a 12 month high of $9.44. The firm has a market capitalization of $357.20 million, a PE ratio of -1.58 and a beta of 0.48. The stock has a fifty day moving average price of $4.30 and a 200 day moving average price of $5.33.

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

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 17.0%. B&G Foods's payout ratio is presently -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.