Renaissance Technologies LLC Decreases Position in B&G Foods, Inc. (NYSE:BGS)

Renaissance Technologies LLC decreased its holdings in shares of B&G Foods, Inc. (NYSE:BGS - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,300 shares of the company's stock after selling 138,000 shares during the period. Renaissance Technologies LLC owned about 0.36% of B&G Foods worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BGS. Invesco Ltd. grew its position in shares of B&G Foods by 55.7% during the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock valued at $7,805,000 after purchasing an additional 405,033 shares in the last quarter. American Century Companies Inc. boosted its stake in B&G Foods by 13.7% during the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company's stock valued at $15,342,000 after buying an additional 267,455 shares during the last quarter. Raymond James Financial Inc. purchased a new position in B&G Foods during the 4th quarter valued at approximately $1,132,000. Dana Investment Advisors Inc. increased its stake in B&G Foods by 20.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock worth $5,269,000 after acquiring an additional 129,202 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of B&G Foods during the 4th quarter worth approximately $857,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Trading Up 1.7 %

B&G Foods stock traded up $0.12 during trading hours on Wednesday, hitting $6.99. The company had a trading volume of 672,741 shares, compared to its average volume of 1,455,834. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The firm has a market cap of $553.17 million, a P/E ratio of -20.56 and a beta of 0.74. The company has a 50-day moving average price of $6.77 and a two-hundred day moving average price of $6.93. B&G Foods, Inc. has a 1 year low of $5.45 and a 1 year high of $11.72.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $551.57 million during the quarter, compared to analysts' expectations 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, sell-side analysts anticipate that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 10.87%. B&G Foods's payout ratio is -23.90%.

Analyst Ratings Changes

Separately, Piper Sandler decreased their target price on shares of B&G Foods from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, B&G Foods presently has a consensus rating of "Hold" and a consensus price target of $8.10.

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