Cubist Systematic Strategies LLC Raises Stock Holdings in B&G Foods, Inc. $BGS

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in B&G Foods, owning approximately 0.86%, or $4.71 million, worth of shares after a major purchase.
• Analysts have downgraded B&G Foods with price objectives decreasing to a consensus rating of "Reduce" and a price target of $6.10.
• B&G Foods recently declared a $0.19 quarterly dividend, resulting in an annualized yield of 16.4%, despite a negative payout ratio.

Cubist Systematic Strategies LLC increased its stake in B&G Foods, Inc. (NYSE:BGS - Free Report) by 1,574.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 685,118 shares of the company's stock after acquiring an additional 644,200 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.86% of B&G Foods worth $4,707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of B&G Foods by 31.5% in the 1st 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 last quarter. Invesco Ltd. raised its position in shares of B&G Foods by 8.1% in the 1st quarter. Invesco Ltd. now owns 1,225,109 shares of the company's stock worth $8,416,000 after buying an additional 92,275 shares during the period. Northern Trust Corp boosted its holdings in B&G Foods by 10.0% in the fourth quarter. Northern Trust Corp now owns 872,186 shares of the company's stock valued at $6,009,000 after acquiring an additional 79,226 shares during the last quarter. Two Sigma Investments LP grew its position in 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 acquiring an additional 441,117 shares during the period. Finally, Bank of New York Mellon Corp grew its position in B&G Foods by 14.0% during the first quarter. Bank of New York Mellon Corp now owns 789,956 shares of the company's stock valued at $5,427,000 after acquiring an additional 97,209 shares during the period. Institutional investors and hedge funds own 66.15% of the company's stock.

B&G Foods Stock Up 0.8%

B&G Foods stock traded up $0.04 during midday trading on Wednesday, hitting $4.61. 2,076,215 shares of the company were exchanged, compared to its average volume of 2,002,261. The company has a market cap of $368.64 million, a PE ratio of -1.63 and a beta of 0.46. B&G Foods, Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $9.44. The company's fifty day moving average price is $4.33 and its 200-day moving average price is $5.23. 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 (NYSE:BGS - Get Free Report) last issued its quarterly earnings data 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). B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The firm had revenue of $424.43 million during the quarter, compared to analyst estimates of $427.80 million. During the same period last year, the business earned $0.08 EPS. The firm's revenue was down 4.5% compared to the same quarter last year. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. On average, research analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.76 annualized dividend and a yield of 16.5%. B&G Foods's payout ratio is -26.86%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BGS. Royal Bank Of Canada reduced their price objective on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. Barclays reduced their price target on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $6.10.

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.