Two Sigma Investments LP Purchases 441,117 Shares of B&G Foods, Inc. (NYSE:BGS)

Two Sigma Investments LP increased its holdings in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 113.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 830,817 shares of the company's stock after buying an additional 441,117 shares during the quarter. Two Sigma Investments LP owned 1.05% of B&G Foods worth $5,724,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock valued at $55,000 after purchasing an additional 2,658 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of B&G Foods in the 4th quarter valued at about $79,000. Prism Advisors Inc. acquired a new stake in shares of B&G Foods in the 4th quarter valued at about $82,000. Quarry LP raised its stake in shares of B&G Foods by 45,526.9% in the 4th quarter. Quarry LP now owns 11,863 shares of the company's stock valued at $82,000 after purchasing an additional 11,837 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of B&G Foods in the 4th quarter valued at about $91,000. Institutional investors and hedge funds own 66.15% of the company's stock.

Wall Street Analyst Weigh In

BGS has been the topic of a number of recent research reports. Piper Sandler lowered their target price on B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Barclays lowered their target price on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, B&G Foods has a consensus rating of "Hold" and an average target price of $7.30.

B&G Foods Stock Performance

NYSE BGS traded up $0.18 during trading on Friday, reaching $4.20. 3,215,953 shares of the company's stock were exchanged, compared to its average volume of 1,654,465. The business has a 50 day moving average price of $5.73 and a 200-day moving average price of $6.41. The stock has a market capitalization of $335.15 million, a P/E ratio of -12.35 and a beta of 0.74. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods, Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $9.74.

B&G Foods (NYSE:BGS - Get Free Report) last announced its quarterly 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 business had revenue of $425.40 million for the quarter, compared to analyst estimates of $459.40 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Sell-side analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently declared 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 18.10%. The ex-dividend date of this dividend is Monday, June 30th. B&G Foods's dividend payout ratio (DPR) is presently -28.57%.

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.