Everence Capital Management Inc. Sells 2,930 Shares of B&G Foods, Inc. (NYSE:BGS)

Everence Capital Management Inc. cut its holdings in B&G Foods, Inc. (NYSE:BGS) by 19.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,120 shares of the company’s stock after selling 2,930 shares during the quarter. Everence Capital Management Inc.’s holdings in B&G Foods were worth $127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP raised its stake in B&G Foods by 505.5% during the 4th quarter. Marshall Wace LLP now owns 713,859 shares of the company’s stock valued at $7,960,000 after buying an additional 595,968 shares during the last quarter. Invesco Ltd. raised its stake in B&G Foods by 72.7% during the 3rd quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock valued at $10,760,000 after buying an additional 458,082 shares during the last quarter. Vanguard Group Inc. raised its stake in B&G Foods by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,543,629 shares of the company’s stock valued at $140,884,000 after buying an additional 453,830 shares during the last quarter. Savoir Faire Capital Management L.P. purchased a new stake in B&G Foods during the 3rd quarter valued at $3,698,000. Finally, Norges Bank purchased a new stake in B&G Foods during the 4th quarter valued at $3,959,000. 66.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BGS. Piper Sandler boosted their target price on shares of B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.50.

B&G Foods Trading Up 1.4 %

Shares of BGS stock opened at $10.73 on Friday. B&G Foods, Inc. has a 52-week low of $7.20 and a 52-week high of $16.68. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.89 and a current ratio of 3.06. The firm has a market capitalization of $848.21 million, a PE ratio of -12.19 and a beta of 0.71. The stock has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $9.98.

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

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Wednesday, March 27th. B&G Foods’s dividend payout ratio (DPR) is presently -86.36%.

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.