EntryPoint Capital LLC Takes Position in B&G Foods, Inc. $BGS

Key Points

• EntryPoint Capital LLC acquired 58,460 shares of B&G Foods, valued at approximately $402,000, raising its stake to 0.07% of the company.
• B&G Foods reported a quarterly earnings miss, with an EPS of $0.04 compared to the consensus estimate of $0.07, and a 4.5% decline in revenue year over year.
• The company announced a quarterly dividend of $0.19, representing an annualized yield of 17.2% set to be paid on October 27th.

EntryPoint Capital LLC acquired a new position in B&G Foods, Inc. (NYSE:BGS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 58,460 shares of the company's stock, valued at approximately $402,000. EntryPoint Capital LLC owned 0.07% of B&G Foods as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in BGS. JPMorgan Chase & Co. grew its position in B&G Foods by 66.1% in the fourth quarter. JPMorgan Chase & Co. now owns 296,346 shares of the company's stock worth $2,042,000 after acquiring an additional 117,912 shares during the period. Russell Investments Group Ltd. grew its position in B&G Foods by 290.7% in the fourth quarter. Russell Investments Group Ltd. now owns 24,302 shares of the company's stock worth $168,000 after acquiring an additional 18,082 shares during the period. Bank of Montreal Can grew its position in B&G Foods by 221.9% in the fourth quarter. Bank of Montreal Can now owns 40,411 shares of the company's stock worth $278,000 after acquiring an additional 27,858 shares during the period. Invesco Ltd. grew its position in B&G Foods by 55.7% in the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock worth $7,805,000 after acquiring an additional 405,033 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in B&G Foods in the fourth quarter worth approximately $1,132,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on BGS shares. Royal Bank Of Canada lowered 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. Piper Sandler lowered their price objective 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. Finally, Barclays lowered their price target 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. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $6.10.

B&G Foods Stock Down 1.4%

Shares of NYSE BGS traded down $0.07 during mid-day trading on Tuesday, hitting $4.44. The company had a trading volume of 508,132 shares, compared to its average volume of 2,454,678. The company has a market capitalization of $354.80 million, a PE ratio of -1.57 and a beta of 0.48. 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 1-year low of $3.67 and a 1-year high of $9.44. The business's 50-day simple moving average is $4.29 and its 200 day simple moving average is $5.35.

B&G Foods (NYSE:BGS - Get Free Report) last announced 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). The company had revenue of $424.43 million during the quarter, compared to analyst estimates of $427.80 million. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The firm's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. On average, analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 17.1%. The ex-dividend date is Tuesday, September 30th. B&G Foods's dividend payout ratio (DPR) is presently -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.