JPMorgan Chase & Co. Buys 117,912 Shares of B&G Foods, Inc. (NYSE:BGS)

JPMorgan Chase & Co. grew its stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 66.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,346 shares of the company's stock after acquiring an additional 117,912 shares during the quarter. JPMorgan Chase & Co. owned about 0.37% of B&G Foods worth $2,042,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BGS. Stratos Wealth Partners LTD. raised its position in B&G Foods by 12.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company's stock worth $101,000 after buying an additional 1,599 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in B&G Foods by 50.6% during the fourth 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. Rhumbline Advisers boosted its holdings in B&G Foods by 1.2% in the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company's stock worth $1,730,000 after purchasing an additional 2,898 shares during the last quarter. Fifth Third Bancorp grew its position in B&G Foods by 260.9% in the 4th quarter. Fifth Third Bancorp now owns 13,500 shares of the company's stock worth $93,000 after purchasing an additional 9,759 shares during the period. Finally, Principal Financial Group Inc. raised its stake in B&G Foods by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company's stock valued at $2,644,000 after buying an additional 10,742 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price objective on B&G Foods from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, B&G Foods presently has an average rating of "Hold" and an average target price of $8.10.

B&G Foods Stock Performance

Shares of NYSE:BGS traded up $0.02 during midday trading on Wednesday, hitting $6.89. The company had a trading volume of 1,467,239 shares, compared to its average volume of 1,461,556. The company has a market cap of $545.26 million, a price-to-earnings ratio of -20.26 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. The company has a fifty day moving average of $6.77 and a two-hundred day moving average of $6.93. B&G Foods, Inc. has a 12-month low of $5.45 and a 12-month high of $11.72.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. On average, equities research analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 11.03%. B&G Foods's dividend payout ratio is presently -23.90%.

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. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.