Raymond James Financial Inc. Acquires Shares of 164,338 B&G Foods, Inc. (NYSE:BGS)

Raymond James Financial Inc. purchased a new stake in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 164,338 shares of the company's stock, valued at approximately $1,132,000. Raymond James Financial Inc. owned 0.21% of B&G Foods as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BGS. Invesco Ltd. raised its position in B&G Foods by 55.7% in the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock worth $7,805,000 after acquiring an additional 405,033 shares during the period. Bank of Montreal Can raised its stake in shares of B&G Foods by 221.9% in the fourth quarter. Bank of Montreal Can now owns 40,411 shares of the company's stock worth $278,000 after buying an additional 27,858 shares during the period. Russell Investments Group Ltd. raised its stake in shares of B&G Foods by 290.7% in the fourth quarter. Russell Investments Group Ltd. now owns 24,302 shares of the company's stock worth $168,000 after buying an additional 18,082 shares during the period. Geode Capital Management LLC lifted its position in shares of B&G Foods by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company's stock valued at $12,468,000 after buying an additional 5,646 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in B&G Foods by 66.1% in the 4th quarter. JPMorgan Chase & Co. now owns 296,346 shares of the company's stock worth $2,042,000 after acquiring an additional 117,912 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BGS. Piper Sandler decreased their price objective on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a research report on Thursday. Barclays lowered their price objective on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.30.

B&G Foods Price Performance

B&G Foods stock remained flat at $4.48 during midday trading on Friday. The company had a trading volume of 3,734,261 shares, compared to its average volume of 1,570,143. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a 52 week low of $4.30 and a 52 week high of $9.78. The business's 50 day moving average price is $6.62 and its two-hundred day moving average price is $6.78. The company has a market cap of $354.54 million, a PE ratio of -13.18 and a beta of 0.74.

B&G Foods (NYSE:BGS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $459.40 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 16.96%. B&G Foods's payout ratio is currently -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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.