Jacobs Levy Equity Management Inc. Invests $428,000 in B&G Foods, Inc. (NYSE:BGS)

Jacobs Levy Equity Management Inc. purchased a new position in B&G Foods, Inc. (NYSE:BGS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 62,108 shares of the company's stock, valued at approximately $428,000. Jacobs Levy Equity Management Inc. owned about 0.08% of B&G Foods as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Dana Investment Advisors Inc. raised its holdings in shares of B&G Foods by 20.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock worth $5,269,000 after acquiring an additional 129,202 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of B&G Foods in the fourth quarter worth $1,132,000. Wedge Capital Management L L P NC acquired a new position in shares of B&G Foods in the fourth quarter worth $857,000. Intech Investment Management LLC raised its holdings in shares of B&G Foods by 130.9% in the fourth quarter. Intech Investment Management LLC now owns 108,675 shares of the company's stock worth $749,000 after acquiring an additional 61,619 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of B&G Foods by 13.7% in the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company's stock worth $15,342,000 after acquiring an additional 267,455 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on BGS. Piper Sandler lowered their price objective on 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. Barclays lowered their price objective on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.30.

B&G Foods Trading Down 0.8%

Shares of NYSE BGS opened at $4.43 on Friday. The stock's 50 day moving average price is $6.32 and its two-hundred day moving average price is $6.64. B&G Foods, Inc. has a 52-week low of $4.06 and a 52-week high of $9.78. The stock has a market capitalization of $353.11 million, a P/E ratio of -13.01 and a beta of 0.74. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.12). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $425.40 million for the quarter, compared to analyst estimates of $459.40 million. During the same quarter in the previous year, the company earned $0.18 EPS. The company's quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 17.18%. The ex-dividend date of this dividend is Monday, June 30th. B&G Foods's dividend payout ratio (DPR) is -28.57%.

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.

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