Investors Asset Management of Georgia Inc. GA ADV Decreases Holdings in B&G Foods, Inc. (NYSE:BGS)

Investors Asset Management of Georgia Inc. GA ADV trimmed its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 60.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,845 shares of the company’s stock after selling 62,130 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in B&G Foods were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of B&G Foods by 124.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the company’s stock worth $29,000 after purchasing an additional 1,039 shares in the last quarter. State of Wyoming acquired a new stake in shares of B&G Foods during the second quarter worth about $30,000. Nomura Asset Management Co. Ltd. increased its position in shares of B&G Foods by 117.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $31,000 after purchasing an additional 1,080 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in B&G Foods in the 1st quarter valued at about $33,000. Finally, Steward Partners Investment Advisory LLC increased its position in B&G Foods by 818.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,344 shares of the company’s stock valued at $52,000 after acquiring an additional 2,980 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of NYSE:BGS traded down $0.04 during trading on Thursday, hitting $10.58. 269,046 shares of the stock were exchanged, compared to its average volume of 1,017,769. The company has a fifty day moving average price of $10.71 and a two-hundred day moving average price of $9.97. The company has a market cap of $836.35 million, a PE ratio of -12.12 and a beta of 0.71. The company has a current ratio of 3.06, a quick ratio of 0.89 and a debt-to-equity ratio of 2.42. B&G Foods, Inc. has a 12-month low of $7.20 and a 12-month high of $16.68.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $578.13 million for the quarter, compared to analyst estimates of $569.65 million. B&G Foods had a positive return on equity of 8.68% and a negative net margin of 3.21%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. On average, analysts forecast that B&G Foods, Inc. will post 0.83 EPS for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date of this dividend is Wednesday, March 27th. B&G Foods’s payout ratio is currently -86.36%.

Analysts Set New Price Targets

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

B&G Foods 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.