B&G Foods, Inc. $BGS Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has increased its stock holdings in B&G Foods by 28.2% in Q1, representing approximately $4.85 million worth of shares.
• B&G Foods reported a disappointing quarterly earnings of $0.04 EPS, missing estimates and showing a 4.5% revenue decline compared to the previous year.
• The company announced a quarterly dividend of $0.19 per share, yielding 16.6%, despite having a negative payout ratio of -26.86%.

Goldman Sachs Group Inc. boosted its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 28.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 706,117 shares of the company's stock after acquiring an additional 155,503 shares during the period. Goldman Sachs Group Inc. owned about 0.88% of B&G Foods worth $4,851,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in B&G Foods by 1,033.9% during the 1st quarter. GAMMA Investing LLC now owns 285,517 shares of the company's stock worth $1,962,000 after acquiring an additional 260,338 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in B&G Foods by 131.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 166,199 shares of the company's stock worth $1,142,000 after acquiring an additional 94,424 shares in the last quarter. Northern Trust Corp grew its holdings in B&G Foods by 10.0% during 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 in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in B&G Foods by 88.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,457 shares of the company's stock worth $223,000 after acquiring an additional 15,263 shares in the last quarter. Finally, Nuveen LLC acquired a new position in B&G Foods during the 1st quarter worth approximately $1,750,000. Institutional investors and hedge funds own 66.15% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on BGS. Royal Bank Of Canada lowered their price target on shares of B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Barclays lowered 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 report on Tuesday, July 15th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, B&G Foods has an average rating of "Reduce" and an average price target of $6.10.

B&G Foods Stock Performance

BGS stock remained flat at $4.64 on Friday. 16,054,627 shares of the company traded hands, compared to its average volume of 2,130,375. The firm's 50-day simple moving average is $4.36 and its 200 day simple moving average is $5.12. B&G Foods, Inc. has a 1 year low of $3.67 and a 1 year high of $9.44. The stock has a market capitalization of $371.20 million, a PE ratio of -1.64 and a beta of 0.46. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations 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 for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. As a group, equities analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 16.4%. The ex-dividend date of this dividend is Tuesday, September 30th. B&G Foods's dividend payout ratio 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.