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

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

A number of other hedge funds and other institutional investors have also modified their holdings of BGS. Dimensional Fund Advisors LP grew its holdings in shares of B&G Foods by 28.6% during the fourth 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 in the last quarter. Two Sigma Investments LP boosted its position in B&G Foods by 113.2% during 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 during the period. Invesco Ltd. grew its position in B&G Foods by 55.7% during the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock valued at $7,805,000 after purchasing an additional 405,033 shares in the last quarter. Barclays PLC increased its stake in shares of B&G Foods by 267.5% in the fourth quarter. Barclays PLC now owns 480,312 shares of the company's stock worth $3,308,000 after acquiring an additional 349,619 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of B&G Foods by 279.0% during the 4th quarter. Two Sigma Advisers LP now owns 458,200 shares of the company's stock worth $3,157,000 after purchasing an additional 337,300 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company's stock.

B&G Foods Stock Performance

B&G Foods stock traded down $0.04 during trading hours on Tuesday, reaching $4.38. 2,054,648 shares of the company were exchanged, compared to its average volume of 1,731,720. B&G Foods, Inc. has a 12 month low of $3.97 and a 12 month high of $9.44. The company has a current ratio of 3.32, a quick ratio of 1.07 and a debt-to-equity ratio of 3.90. The stock has a 50-day moving average of $5.21 and a 200 day moving average of $6.24. The firm has a market cap of $349.13 million, a price-to-earnings ratio of -1.64 and a beta of 0.53.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.12). B&G Foods had a positive return on equity of 7.00% and a negative net margin of 11.16%. The firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $459.40 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. B&G Foods's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, research analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 17.37%. The ex-dividend date is Monday, June 30th. B&G Foods's dividend payout ratio is currently -28.57%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BGS shares. Piper Sandler cut their price objective on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Barclays cut their price target on shares of B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.30.

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.