Vanguard Group Inc. Has $41.49 Million Stock Holdings 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. lowered its position in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 23.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Factorial Partners LLC grew its stake in shares of B&G Foods by 10.0% during the first quarter. Factorial Partners LLC now owns 107,000 shares of the company's stock valued at $735,000 after acquiring an additional 9,700 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in B&G Foods by 112.3% in the first quarter. PNC Financial Services Group Inc. now owns 16,798 shares of the company's stock worth $115,000 after purchasing an additional 8,885 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in B&G Foods by 131.6% in the first quarter. Jupiter Asset Management Ltd. now owns 166,199 shares of the company's stock worth $1,142,000 after purchasing an additional 94,424 shares in the last quarter. US Bancorp DE grew its stake in B&G Foods by 2.9% in the first quarter. US Bancorp DE now owns 81,823 shares of the company's stock worth $562,000 after purchasing an additional 2,278 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in B&G Foods in the first quarter worth about $254,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on BGS. Royal Bank Of Canada decreased their price target on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Piper Sandler decreased their target price on B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Barclays decreased their target price on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, B&G Foods currently has an average rating of "Reduce" and an average target price of $6.10.

B&G Foods Price Performance

NYSE BGS traded up $0.07 on Friday, reaching $4.52. The company's stock had a trading volume of 1,542,790 shares, compared to its average volume of 2,544,405. B&G Foods, Inc. has a twelve month low of $3.67 and a twelve month high of $9.44. 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 stock has a market cap of $361.20 million, a PE ratio of -1.60 and a beta of 0.48. The firm's 50 day moving average is $4.31 and its two-hundred day moving average is $5.32.

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 for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The business had revenue of $424.43 million during the quarter, compared to analyst estimates of $427.80 million. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. B&G Foods's revenue was down 4.5% compared to the same quarter last year. 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. As a group, sell-side analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

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

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.