B&G Foods, Inc. (NYSE:BGS) Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in B&G Foods by 131.6%, holding 166,199 shares valued at approximately $1,142,000.
• After recent earnings, B&G Foods reported a net loss of $0.03 per share and a 4.5% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.19 per share, yielding 19.0%, despite a negative dividend payout ratio.

Jupiter Asset Management Ltd. boosted its position in B&G Foods, Inc. (NYSE:BGS - Free Report) by 131.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 166,199 shares of the company's stock after purchasing an additional 94,424 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.21% of B&G Foods worth $1,142,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of B&G Foods by 1,033.9% in the 1st quarter. GAMMA Investing LLC now owns 285,517 shares of the company's stock worth $1,962,000 after buying an additional 260,338 shares during the last quarter. Northern Trust Corp boosted its stake in B&G Foods by 10.0% in the fourth quarter. Northern Trust Corp now owns 872,186 shares of the company's stock valued at $6,009,000 after acquiring an additional 79,226 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in B&G Foods by 88.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,457 shares of the company's stock valued at $223,000 after acquiring an additional 15,263 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in B&G Foods by 14.0% in the first 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 last quarter. Finally, Two Sigma Advisers LP increased its position in shares of B&G Foods by 279.0% during the fourth quarter. Two Sigma Advisers LP now owns 458,200 shares of the company's stock worth $3,157,000 after purchasing an additional 337,300 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Stock Performance

BGS stock traded down $0.04 during midday trading on Friday, reaching $4.03. The stock had a trading volume of 799,213 shares, compared to its average volume of 2,483,438. The firm has a fifty day simple moving average of $4.30 and a two-hundred day simple moving average of $5.54. B&G Foods, Inc. has a 52-week low of $3.67 and a 52-week high of $9.44. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.07 and a current ratio of 2.93. The stock has a market cap of $322.02 million, a PE ratio of -1.42 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 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The firm had revenue of $424.43 million for the quarter, compared to analyst estimates of $427.80 million. B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.08 EPS. As a group, equities research analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 18.9%. B&G Foods's dividend payout ratio is presently -26.86%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BGS shares. Royal Bank Of Canada lowered their price objective on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a research report on Tuesday. Barclays dropped their price target on 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. Finally, Piper Sandler cut their price objective on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, B&G Foods presently has a consensus rating of "Hold" and a consensus price target of $6.10.

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.