KLP Kapitalforvaltning AS Invests $92,000 in B&G Foods, Inc. (NYSE:BGS)

KLP Kapitalforvaltning AS purchased a new stake in shares of B&G Foods, Inc. (NYSE:BGS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,000 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BGS. FMR LLC lifted its position in shares of B&G Foods by 67.5% during the 3rd quarter. FMR LLC now owns 161,345 shares of the company’s stock worth $1,433,000 after buying an additional 65,011 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of B&G Foods by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,926 shares of the company’s stock valued at $1,731,000 after acquiring an additional 3,879 shares during the last quarter. Stifel Financial Corp lifted its holdings in B&G Foods by 1.9% during the third quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock worth $1,612,000 after acquiring an additional 3,359 shares during the period. Barclays PLC boosted its position in B&G Foods by 310.1% in the third quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after purchasing an additional 98,824 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in B&G Foods by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after purchasing an additional 24,995 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

Shares of BGS opened at $5.78 on Friday. B&G Foods, Inc. has a 1 year low of $5.45 and a 1 year high of $11.72. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The stock’s fifty day moving average price is $6.62 and its two-hundred day moving average price is $7.10. The firm has a market cap of $457.02 million, a PE ratio of -16.98 and a beta of 0.74.

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

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 13.16%. B&G Foods’s dividend payout ratio is currently -23.90%.

Wall Street Analysts Forecast Growth

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

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.