Jump Financial LLC Increases Stock Position in B&G Foods, Inc. $BGS

Key Points

• Jump Financial LLC significantly increased its stake in B&G Foods by 2,050.2% in the first quarter, owning 335,618 shares valued at approximately $2.3 million.
• Analysts have reduced their price targets for B&G Foods, with Barclays lowering it from $5.00 to $4.00, rating the stock as "equal weight."
• B&G Foods recently announced a dividend of $0.19 per share, reflecting an annualized yield of 17.3%, despite a negative dividend payout ratio.

Jump Financial LLC lifted its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 2,050.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,618 shares of the company's stock after acquiring an additional 320,009 shares during the period. Jump Financial LLC owned approximately 0.42% of B&G Foods worth $2,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BGS. EntryPoint Capital LLC bought a new stake in B&G Foods in the 1st quarter worth approximately $402,000. Quantbot Technologies LP boosted its stake in shares of B&G Foods by 11.8% during the 1st quarter. Quantbot Technologies LP now owns 102,439 shares of the company's stock worth $704,000 after acquiring an additional 10,812 shares during the last quarter. Versor Investments LP purchased a new position in shares of B&G Foods during the 1st quarter worth $875,000. Fox Run Management L.L.C. boosted its stake in shares of B&G Foods by 74.0% during the 1st quarter. Fox Run Management L.L.C. now owns 26,071 shares of the company's stock worth $179,000 after acquiring an additional 11,086 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of B&G Foods by 3,217.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company's stock worth $35,000 after acquiring an additional 4,891 shares during the last quarter. Institutional investors own 66.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BGS. Barclays dropped their price target 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. Piper Sandler dropped their price target on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada dropped their price target on shares of B&G Foods from $6.00 to $5.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, B&G Foods presently has an average rating of "Reduce" and an average target price of $6.10.

B&G Foods Price Performance

Shares of BGS traded up $0.07 during trading hours on Friday, reaching $4.52. 1,542,790 shares of the stock traded hands, compared to its average volume of 2,544,405. 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, Inc. has a 52-week low of $3.67 and a 52-week high of $9.44. The company's 50-day moving average price is $4.31 and its two-hundred day moving average price is $5.32. The company has a market cap of $361.20 million, a P/E ratio of -1.60 and a beta of 0.48.

B&G Foods (NYSE:BGS - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The firm had revenue of $424.43 million for the quarter, compared to analysts' expectations of $427.80 million. During the same quarter last year, the firm posted $0.08 EPS. The firm's quarterly revenue was down 4.5% compared to the same quarter last year. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. On average, analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share 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. Shareholders of record on Tuesday, September 30th will be paid a $0.19 dividend. 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 payout ratio is presently -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.