Inceptionr LLC Invests $162,000 in B&G Foods, Inc. (NYSE:BGS)

Inceptionr LLC bought a new position in B&G Foods, Inc. (NYSE:BGS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 23,469 shares of the company’s stock, valued at approximately $162,000.

Several other institutional investors have also recently made changes to their positions in BGS. Janney Montgomery Scott LLC grew its stake in shares of B&G Foods by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock worth $2,258,000 after acquiring an additional 4,240 shares in the last quarter. Versor Investments LP grew its stake in shares of B&G Foods by 13.4% in the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after acquiring an additional 2,862 shares in the last quarter. Empowered Funds LLC grew its stake in shares of B&G Foods by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 315,620 shares of the company’s stock worth $2,803,000 after acquiring an additional 16,080 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of B&G Foods by 87.8% in the 3rd quarter. Intech Investment Management LLC now owns 47,056 shares of the company’s stock worth $418,000 after acquiring an additional 22,003 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of B&G Foods in the 3rd quarter worth $1,201,000. Institutional investors own 66.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler reduced their target price on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.10.

B&G Foods Price Performance

Shares of NYSE:BGS opened at $7.89 on Tuesday. The company’s 50-day moving average is $6.55 and its 200 day moving average is $7.43. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The company has a market capitalization of $624.00 million, a P/E ratio of -23.19 and a beta of 0.47. B&G Foods, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $11.79.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. On average, equities research analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.64%. The ex-dividend date is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.