Federated Hermes Inc. Decreases Position in B&G Foods, Inc. (NYSE:BGS)

Federated Hermes Inc. reduced its stake in B&G Foods, Inc. (NYSE:BGS) by 54.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,284 shares of the company’s stock after selling 144,262 shares during the period. Federated Hermes Inc. owned 0.15% of B&G Foods worth $1,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of B&G Foods in the 3rd quarter valued at $70,000. SG Americas Securities LLC acquired a new position in B&G Foods in the third quarter valued at $104,000. Mutual of America Capital Management LLC boosted its stake in B&G Foods by 8.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 13,761 shares of the company’s stock valued at $144,000 after acquiring an additional 1,090 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of B&G Foods by 34.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 16,098 shares of the company’s stock worth $162,000 after purchasing an additional 4,152 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of B&G Foods by 35.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,166 shares of the company’s stock worth $170,000 after purchasing an additional 4,517 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

Analyst Ratings Changes

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

B&G Foods Price Performance

Shares of BGS opened at $11.26 on Tuesday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.89 and a current ratio of 3.06. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $16.68. The firm has a 50-day simple moving average of $10.88 and a 200-day simple moving average of $10.13. The company has a market capitalization of $890.10 million, a price-to-earnings ratio of -12.80 and a beta of 0.71.

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

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.19 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a yield of 6.75%. B&G Foods’s dividend payout ratio (DPR) is -86.36%.

B&G Foods Company 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.