GAMMA Investing LLC Buys 260,338 Shares of B&G Foods, Inc. (NYSE:BGS)

GAMMA Investing LLC raised its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 1,033.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 285,517 shares of the company's stock after buying an additional 260,338 shares during the quarter. GAMMA Investing LLC owned 0.36% of B&G Foods worth $1,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in B&G Foods by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock valued at $23,106,000 after buying an additional 744,898 shares during the last quarter. American Century Companies Inc. lifted its position in shares of B&G Foods by 13.7% in the 4th quarter. American Century Companies Inc. now owns 2,226,706 shares of the company's stock worth $15,342,000 after acquiring an additional 267,455 shares during the period. Geode Capital Management LLC lifted its position in shares of B&G Foods by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company's stock worth $12,468,000 after acquiring an additional 5,646 shares during the period. Invesco Ltd. lifted its position in shares of B&G Foods by 55.7% in the 4th 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, Northern Trust Corp lifted its position in shares of B&G Foods by 10.0% in the 4th quarter. Northern Trust Corp now owns 872,186 shares of the company's stock worth $6,009,000 after acquiring an additional 79,226 shares during the period. Institutional investors and hedge funds own 66.15% of the company's stock.

B&G Foods Stock Performance

Shares of BGS stock traded down $0.18 during mid-day trading on Friday, reaching $4.36. The stock had a trading volume of 1,808,174 shares, compared to its average volume of 1,724,302. The firm's 50 day simple moving average is $5.28 and its 200 day simple moving average is $6.27. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a one year low of $3.97 and a one year high of $9.44. The firm has a market cap of $347.52 million, a PE ratio of -12.81 and a beta of 0.54.

B&G Foods (NYSE:BGS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). The company had revenue of $425.40 million for the quarter, compared to the consensus estimate of $459.40 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. On average, analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 annualized dividend and a dividend yield of 17.45%. B&G Foods's dividend payout ratio (DPR) is presently -28.57%.

Analyst Upgrades and Downgrades

BGS has been the subject of a number of research reports. Piper Sandler reduced 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. Barclays reduced their price objective on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.30.

B&G Foods Company 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.