Invesco Ltd. Has $8.42 Million Stock Holdings in B&G Foods, Inc. $BGS

Key Points

• Invesco Ltd. increased its holdings in B&G Foods, Inc. by 8.1%, acquiring an additional 92,275 shares, bringing its total ownership to 1,225,109 shares valued at approximately $8.4 million.
• Recent analyst reports have cut B&G Foods' price targets, with Barclays lowering its target from $5.00 to $4.00, while Piper Sandler and Royal Bank of Canada also adjusted their ratings.
• B&G Foods announced a quarterly dividend of $0.19 per share, representing an annual yield of 16.8%, with a payout ratio of -26.86% and a guidance of 0.500-0.600 EPS for FY 2025.

Invesco Ltd. lifted its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 8.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,225,109 shares of the company's stock after purchasing an additional 92,275 shares during the period. Invesco Ltd. owned about 1.54% of B&G Foods worth $8,416,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BGS. GAMMA Investing LLC boosted its stake in shares of 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. raised its holdings in B&G Foods by 131.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 166,199 shares of the company's stock valued at $1,142,000 after acquiring an additional 94,424 shares during the last quarter. Northern Trust Corp increased its holdings in shares of 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 buying an additional 79,226 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of 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 buying an additional 15,263 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in B&G Foods by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 789,956 shares of the company's stock worth $5,427,000 after purchasing an additional 97,209 shares during the period. Institutional investors and hedge funds own 66.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BGS. Piper Sandler decreased their price objective on shares of 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. Royal Bank Of Canada cut their price target on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. Finally, Barclays lowered their price objective on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $6.10.

B&G Foods Trading Down 1.4%

BGS traded down $0.07 during trading on Thursday, reaching $4.47. 1,807,168 shares of the company's stock were exchanged, compared to its average volume of 2,626,362. The company's fifty day moving average price is $4.30 and its 200-day moving average price is $5.33. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.89 and a current ratio of 2.93. B&G Foods, Inc. has a fifty-two week low of $3.67 and a fifty-two week high of $9.44. The firm has a market capitalization of $357.20 million, a PE ratio of -1.58 and a beta of 0.48.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.04 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 the consensus estimate 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 company's revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. 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 year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 17.0%. B&G Foods's dividend payout ratio is -26.86%.

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.