Federated Hermes Inc. Lowers Stock Position in B&G Foods, Inc. (NYSE:BGS)

Federated Hermes Inc. decreased its holdings in B&G Foods, Inc. (NYSE:BGS - Free Report) by 54.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,284 shares of the company's stock after selling 144,262 shares during the quarter. Federated Hermes Inc. owned 0.15% of B&G Foods worth $1,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BGS. SG Americas Securities LLC acquired a new stake in B&G Foods in the 3rd quarter worth about $104,000. Commonwealth Equity Services LLC raised its stake in B&G Foods by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 114,370 shares of the company's stock worth $1,131,000 after purchasing an additional 1,765 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in B&G Foods by 35.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,166 shares of the company's stock worth $170,000 after purchasing an additional 4,517 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in B&G Foods by 4.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,161,348 shares of the company's stock worth $11,486,000 after purchasing an additional 46,201 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new stake in B&G Foods in the 3rd quarter worth about $490,000. Institutional investors and hedge funds own 66.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on BGS. StockNews.com upgraded shares of B&G Foods from a "sell" rating to a "hold" rating in a research note on Saturday, March 9th. Piper Sandler boosted their target price on shares of B&G Foods from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, B&G Foods has an average rating of "Hold" and a consensus price target of $9.50.

B&G Foods Price Performance

Shares of NYSE:BGS traded down $0.14 during midday trading on Tuesday, hitting $11.10. The stock had a trading volume of 770,151 shares, compared to its average volume of 978,365. The company's 50-day moving average price is $10.88 and its 200-day moving average price is $10.13. The company has a market capitalization of $877.46 million, a P/E ratio of -12.61 and a beta of 0.71. The company has a quick ratio of 0.89, a current ratio of 3.06 and a debt-to-equity ratio of 2.42. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $16.68.

B&G Foods (NYSE:BGS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $578.13 million for the quarter, compared to analyst estimates of $569.65 million. B&G Foods had a negative net margin of 3.21% and a positive return on equity of 8.68%. The firm's revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. As a group, equities research analysts predict that B&G Foods, Inc. will post 0.83 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 6.85%. The ex-dividend date is Wednesday, March 27th. B&G Foods's dividend payout ratio (DPR) is presently -86.36%.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.