GSA Capital Partners LLP Takes Position in B&G Foods, Inc. (NYSE:BGS)

Key Points

• GSA Capital Partners LLP acquired a new stake in B&G Foods, Inc., purchasing 289,792 shares for approximately $1,991,000, representing about 0.37% of the company's stock.
• B&G Foods reported a negative net margin of 11.16% and missed earnings expectations by $0.12, posting an EPS of $0.04 for the last quarter.
• The company announced a quarterly dividend of $0.19 per share, yielding approximately 17.67%, to be paid on July 30th for investors of record as of June 30th.

GSA Capital Partners LLP purchased a new stake in B&G Foods, Inc. (NYSE:BGS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 289,792 shares of the company's stock, valued at approximately $1,991,000. GSA Capital Partners LLP owned about 0.37% of B&G Foods at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BGS. Signaturefd LLC raised its position in B&G Foods by 930.2% during the first quarter. Signaturefd LLC now owns 6,748 shares of the company's stock worth $46,000 after acquiring an additional 6,093 shares in the last quarter. CWM LLC raised its position in B&G Foods by 61.2% during the first quarter. CWM LLC now owns 7,518 shares of the company's stock worth $52,000 after acquiring an additional 2,855 shares in the last quarter. Sigma Planning Corp bought a new stake in B&G Foods during the first quarter worth $69,000. Teacher Retirement System of Texas acquired a new stake in shares of B&G Foods in the first quarter valued at approximately $80,000. Finally, Quarry LP lifted its position in shares of B&G Foods by 45,526.9% in the fourth quarter. Quarry LP now owns 11,863 shares of the company's stock valued at $82,000 after buying an additional 11,837 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Price Performance

B&G Foods stock traded up $0.04 during midday trading on Friday, reaching $4.14. The company's stock had a trading volume of 1,780,644 shares, compared to its average volume of 2,451,632. The business has a 50-day moving average price of $4.30 and a 200-day moving average price of $5.64. The stock has a market cap of $329.97 million, a PE ratio of -1.56 and a beta of 0.54. B&G Foods, Inc. has a 52 week low of $3.97 and a 52 week 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.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.12). The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $459.40 million. B&G Foods had a negative net margin of 11.16% and a positive return on equity of 7.00%. The firm'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, sell-side analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The business 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 dividend yield of 18.4%. The ex-dividend date of this dividend is Tuesday, September 30th. B&G Foods's payout ratio is currently -28.57%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BGS. Piper Sandler cut their price target on B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Barclays dropped their target price on 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. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.10.

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.