Vanguard Group Inc. Decreases Stake in B&G Foods, Inc. $BGS

Key Points

• Vanguard Group Inc. reduced its stake in B&G Foods by 23.6%, selling 1,866,212 shares and retaining 6,038,653 shares, which accounts for approximately 7.63% of the company.
• Several institutional investors have increased their holdings in B&G Foods, with Barclays PLC raising its position by 267.5% in the last quarter.
• B&G Foods reported a decline in quarterly revenue, missing analysts' consensus estimates with earnings per share of $0.04, and it has set an FY 2025 guidance of 0.500-0.600 EPS.

Vanguard Group Inc. decreased its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 23.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,038,653 shares of the company's stock after selling 1,866,212 shares during the period. Vanguard Group Inc. owned approximately 7.63% of B&G Foods worth $41,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in B&G Foods by 930.2% in the first quarter. Signaturefd LLC now owns 6,748 shares of the company's stock worth $46,000 after acquiring an additional 6,093 shares in the last quarter. CWM LLC grew its position in B&G Foods by 61.2% in the first quarter. CWM LLC now owns 7,518 shares of the company's stock worth $52,000 after acquiring an additional 2,855 shares in the last quarter. Sigma Planning Corp purchased a new position in B&G Foods in the first quarter worth about $69,000. Teacher Retirement System of Texas purchased a new position in B&G Foods in the first quarter worth about $80,000. Finally, Quarry LP grew its position in B&G Foods by 45,526.9% in the fourth quarter. Quarry LP now owns 11,863 shares of the company's stock worth $82,000 after acquiring an additional 11,837 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BGS shares. Barclays dropped their price target on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Royal Bank Of Canada dropped their target price 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, August 5th. Finally, Piper Sandler dropped their target price on 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. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, B&G Foods has a consensus rating of "Reduce" and an average target price of $6.10.

B&G Foods Stock Up 1.5%

B&G Foods stock traded up $0.07 during mid-day trading on Monday, reaching $4.52. 1,542,790 shares of the company were exchanged, compared to its average volume of 2,510,696. The business has a fifty day moving average of $4.31 and a 200 day moving average of $5.30. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.89 and a current ratio of 2.93. The firm has a market cap of $361.20 million, a P/E ratio of -1.60 and a beta of 0.46. B&G Foods, Inc. has a 12-month low of $3.67 and a 12-month high of $9.44.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The business 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 business's revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Research analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 16.8%. B&G Foods's dividend payout ratio is presently -26.86%.

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.