Two Sigma Advisers LP Increases Stock Position in B&G Foods, Inc. (NYSE:BGS)

Two Sigma Advisers LP raised its stake in B&G Foods, Inc. (NYSE:BGS - Free Report) by 279.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 458,200 shares of the company's stock after purchasing an additional 337,300 shares during the period. Two Sigma Advisers LP owned 0.58% of B&G Foods worth $3,157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in B&G Foods by 28.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock worth $23,106,000 after buying an additional 744,898 shares during the period. Two Sigma Investments LP lifted its holdings in shares of B&G Foods by 113.2% in the 4th quarter. Two Sigma Investments LP now owns 830,817 shares of the company's stock worth $5,724,000 after purchasing an additional 441,117 shares in the last quarter. Invesco Ltd. grew its position in B&G Foods by 55.7% in the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock valued at $7,805,000 after purchasing an additional 405,033 shares during the period. Barclays PLC raised its holdings in B&G Foods by 267.5% during the fourth quarter. Barclays PLC now owns 480,312 shares of the company's stock worth $3,308,000 after buying an additional 349,619 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake 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 valued at $15,342,000 after buying an additional 267,455 shares in the last quarter. 66.15% of the stock is owned by institutional investors.

B&G Foods Stock Performance

Shares of BGS stock traded up $0.19 on Friday, hitting $4.21. 1,908,333 shares of the stock were exchanged, compared to its average volume of 1,647,735. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $335.55 million, a PE ratio of -12.37 and a beta of 0.74. B&G Foods, Inc. has a one year low of $3.97 and a one year high of $9.74. The firm's 50 day moving average is $5.78 and its two-hundred day moving average is $6.43.

B&G Foods (NYSE:BGS - Get Free Report) last posted its earnings results 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 positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $425.40 million for the quarter, compared to analysts' expectations of $459.40 million. During the same quarter in the prior year, the company earned $0.18 EPS. The company's revenue was down 10.5% on a year-over-year basis. Sell-side analysts expect that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be issued a $0.19 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.76 annualized dividend and a dividend yield of 18.07%. B&G Foods's payout ratio is currently -28.57%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler decreased 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. Barclays reduced their target price on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $7.30.

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.