SummerHaven Investment Management LLC Has $558,000 Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

SummerHaven Investment Management LLC increased its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,151 shares of the company’s stock after buying an additional 1,007 shares during the period. SummerHaven Investment Management LLC’s holdings in B&G Foods were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC raised its holdings in B&G Foods by 58.2% in the 4th quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock valued at $64,000 after acquiring an additional 2,254 shares in the last quarter. CWM LLC grew its holdings in shares of B&G Foods by 57.6% during the 4th quarter. CWM LLC now owns 6,257 shares of the company’s stock worth $66,000 after purchasing an additional 2,287 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of B&G Foods in the third quarter worth $70,000. GAMMA Investing LLC acquired a new position in B&G Foods in the fourth quarter valued at about $76,000. Finally, SG Americas Securities LLC bought a new stake in B&G Foods during the third quarter worth about $104,000. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Up 1.8 %

NYSE:BGS opened at $11.26 on Tuesday. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $16.68. The company has a quick ratio of 0.89, a current ratio of 3.06 and a debt-to-equity ratio of 2.42. The stock’s 50-day simple moving average is $10.88 and its 200 day simple moving average is $10.13.

B&G Foods (NYSE:BGS) 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. Equities analysts predict that B&G Foods, Inc. will post 0.83 earnings per share 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. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.76 annualized dividend and a dividend yield of 6.75%. B&G Foods’s dividend payout ratio (DPR) is presently -86.36%.

Analysts Set New Price Targets

BGS has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, February 28th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, B&G Foods has an average rating of “Hold” and an average target price 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.