Northern Trust Corp Has $6.01 Million Stake in B&G Foods, Inc. (NYSE:BGS)

Northern Trust Corp lifted its stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 872,186 shares of the company's stock after purchasing an additional 79,226 shares during the quarter. Northern Trust Corp owned 1.10% of B&G Foods worth $6,009,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in B&G Foods by 50.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after purchasing an additional 2,658 shares during the period. Independent Wealth Network Inc. bought a new stake in B&G Foods during the fourth quarter worth about $77,000. SBI Securities Co. Ltd. bought a new stake in B&G Foods during the fourth quarter worth about $79,000. Regent Peak Wealth Advisors LLC bought a new stake in B&G Foods during the fourth quarter worth about $81,000. Finally, Prism Advisors Inc. bought a new stake in B&G Foods during the fourth quarter worth about $82,000. Institutional investors own 66.15% of the company's stock.

Analysts Set New Price Targets

BGS has been the subject of several recent analyst reports. Barclays cut their price objective on shares of 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. Piper Sandler cut 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. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, B&G Foods has an average rating of "Hold" and a consensus target price of $7.30.

B&G Foods Price Performance

Shares of BGS stock traded down $0.04 on Friday, reaching $4.02. The company had a trading volume of 1,847,451 shares, compared to its average volume of 1,628,073. The stock has a market capitalization of $320.39 million, a PE ratio of -11.81 and a beta of 0.74. The business's 50-day moving average is $6.01 and its 200 day moving average is $6.50. 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, Inc. has a one year low of $3.98 and a one year high of $9.74.

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

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 18.93%. The ex-dividend date is Monday, June 30th. B&G Foods's dividend payout ratio is presently -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.