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

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

A number of other institutional investors and hedge funds have also bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in shares of B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after acquiring an additional 2,658 shares during the period. SBI Securities Co. Ltd. purchased a new position in B&G Foods in the 4th quarter worth approximately $79,000. Prism Advisors Inc. bought a new position in B&G Foods in the 4th quarter worth approximately $82,000. Quarry LP grew its holdings in B&G Foods by 45,526.9% during the 4th quarter. Quarry LP now owns 11,863 shares of the company's stock valued at $82,000 after buying an additional 11,837 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of B&G Foods during the fourth quarter valued at approximately $91,000. 66.15% of the stock is owned by institutional investors.

B&G Foods Price Performance

B&G Foods stock traded up $0.19 during mid-day trading on Friday, reaching $4.21. 1,908,333 shares of the company's stock traded hands, compared to its average volume of 1,647,735. B&G Foods, Inc. has a 12-month low of $3.97 and a 12-month high of $9.74. The company has a market cap of $335.55 million, a price-to-earnings ratio of -12.37 and a beta of 0.74. The stock has a 50 day moving average of $5.78 and a two-hundred day moving average of $6.43. 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 (NYSE:BGS - Get Free Report) last announced 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). The business had revenue of $425.40 million for the quarter, compared to analysts' expectations 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 firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. Equities analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on BGS. Piper Sandler lowered their target price 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. Barclays decreased their price target on shares of B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, B&G Foods currently has an average 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.