Deutsche Bank AG Sells 78,411 Shares of B&G Foods, Inc. $BGS

Key Points

• Deutsche Bank AG significantly reduced its holdings in B&G Foods, selling 78,411 shares in the first quarter, leaving it with only 61,073 shares and approximately 0.08% ownership of the company.
• B&G Foods recently announced a $0.19 quarterly dividend, with an annualized yield of 16.7%, although it has a negative payout ratio of -26.86%.
• The company reported a loss in earnings per share of $0.04 for the last quarter, missing analyst expectations and experiencing a revenue decline of 4.5% compared to the same quarter last year.

Deutsche Bank AG decreased its holdings in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 56.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,073 shares of the company's stock after selling 78,411 shares during the period. Deutsche Bank AG owned about 0.08% of B&G Foods worth $420,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in B&G Foods by 930.2% during the 1st 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 boosted its stake in shares of B&G Foods by 61.2% in the 1st 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 bought a new position in shares of B&G Foods in the 1st quarter valued at about $69,000. Teacher Retirement System of Texas bought a new position in B&G Foods during the 1st quarter worth approximately $80,000. Finally, Quarry LP boosted its stake in B&G Foods by 45,526.9% during the 4th quarter. Quarry LP now owns 11,863 shares of the company's stock worth $82,000 after acquiring an additional 11,837 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Price Performance

NYSE BGS traded down $0.14 during trading on Tuesday, hitting $4.37. 2,389,907 shares of the company's stock were exchanged, compared to its average volume of 2,353,627. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96. The company has a market cap of $349.44 million, a PE ratio of -1.54 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 stock's 50 day moving average price is $4.31 and its two-hundred day moving average price is $5.30.

B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.04 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%.The firm's revenue was down 4.5% compared to the same quarter last year. During the same period 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. Research analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently announced 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 is Tuesday, September 30th. This represents a $0.76 annualized dividend and a yield of 17.4%. B&G Foods's dividend payout ratio is presently -26.86%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BGS. Royal Bank Of Canada dropped their target price on shares of B&G Foods from $6.00 to $5.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. Barclays decreased their target price on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Finally, Piper Sandler reduced their price objective on shares of 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. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, B&G Foods has a consensus rating of "Reduce" and a consensus price target of $6.10.

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.