Invesco Ltd. Grows Stake 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. boosted its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,225,109 shares of the company's stock after acquiring an additional 92,275 shares during the quarter. Invesco Ltd. owned 1.54% of B&G Foods worth $8,416,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BGS. Raymond James Financial Inc. bought a new position in B&G Foods in the 4th quarter worth about $1,132,000. Barclays PLC increased its stake in B&G Foods by 267.5% in the 4th 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. Guggenheim Capital LLC increased its stake in B&G Foods by 126.9% in the 4th quarter. Guggenheim Capital LLC now owns 31,319 shares of the company's stock worth $216,000 after acquiring an additional 17,516 shares during the last quarter. Jump Financial LLC purchased a new position in shares of B&G Foods in the 4th quarter worth about $108,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of B&G Foods by 6.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 115,660 shares of the company's stock worth $795,000 after purchasing an additional 6,896 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on BGS. Royal Bank Of Canada cut their price objective on 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. Piper Sandler cut their price objective 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. Finally, Barclays cut their price objective 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. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $6.10.

B&G Foods Trading Up 1.5%

BGS stock traded up $0.07 during trading on Friday, hitting $4.52. 1,542,790 shares of the company traded hands, compared to its average volume of 2,510,696. The firm has a market capitalization of $361.20 million, a PE ratio of -1.60 and a beta of 0.46. B&G Foods, Inc. has a 1 year low of $3.67 and a 1 year high of $9.44. The company has a 50-day moving average of $4.31 and a 200-day moving average of $5.31. 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 (NYSE:BGS - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $424.43 million for 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 company's revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Analysts predict that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors 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 yield of 16.8%. B&G Foods's dividend payout ratio is currently -26.86%.

About B&G Foods

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.