Bayesian Capital Management LP Makes New $335,000 Investment in B&G Foods, Inc. (NYSE:BGS)

Bayesian Capital Management LP bought a new stake in B&G Foods, Inc. (NYSE:BGS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 29,303 shares of the company’s stock, valued at approximately $335,000.

A number of other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of B&G Foods by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock valued at $628,000 after acquiring an additional 3,979 shares during the period. LRI Investments LLC acquired a new position in shares of B&G Foods in the 1st quarter valued at $60,000. Quadrature Capital Ltd increased its holdings in shares of B&G Foods by 324.8% in the 1st quarter. Quadrature Capital Ltd now owns 52,204 shares of the company’s stock valued at $597,000 after acquiring an additional 39,914 shares during the period. American International Group Inc. increased its holdings in shares of B&G Foods by 7.5% in the 1st quarter. American International Group Inc. now owns 41,985 shares of the company’s stock valued at $480,000 after acquiring an additional 2,934 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of B&G Foods by 22.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,795 shares of the company’s stock valued at $284,000 after acquiring an additional 4,490 shares during the period. 66.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BGS has been the topic of a number of analyst reports. StockNews.com lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Barclays lowered their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Finally, Piper Sandler lowered their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.50.

B&G Foods Stock Down 0.2 %

Shares of NYSE BGS opened at $8.62 on Thursday. B&G Foods, Inc. has a one year low of $7.20 and a one year high of $15.15. The company’s fifty day moving average is $8.58 and its two-hundred day moving average is $9.81. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.92 and a current ratio of 3.22.

B&G Foods (NYSE:BGS) last issued its earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $475.22 million for the quarter, compared to analysts’ expectations of $480.93 million. B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. B&G Foods’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, equities analysts forecast that B&G Foods, Inc. will post 0.78 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Friday, June 28th were given a dividend of $0.19 per share. The ex-dividend date was Friday, June 28th. This represents a $0.76 annualized dividend and a dividend yield of 8.82%. B&G Foods’s payout ratio is currently -52.78%.

Insiders Place Their Bets

In other news, EVP Scott E. Lerner purchased 11,755 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $8.51 per share, with a total value of $100,035.05. Following the purchase, the executive vice president now directly owns 189,144 shares of the company’s stock, valued at approximately $1,609,615.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Stephen Sherrill purchased 125,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $8.59 per share, with a total value of $1,073,750.00. Following the purchase, the director now directly owns 270,136 shares of the company’s stock, valued at approximately $2,320,468.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott E. Lerner purchased 11,755 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $8.51 per share, with a total value of $100,035.05. Following the purchase, the executive vice president now directly owns 189,144 shares in the company, valued at $1,609,615.44. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 141,955 shares of company stock worth $1,218,453. Corporate insiders own 3.20% of the company’s stock.

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.