Bridgeway Capital Management LLC Raises Stock Position in B&G Foods, Inc. $BGS

Bridgeway Capital Management LLC grew its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,178 shares of the company’s stock after purchasing an additional 22,064 shares during the period. Bridgeway Capital Management LLC owned about 0.80% of B&G Foods worth $4,377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in B&G Foods by 3,217.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company’s stock worth $35,000 after purchasing an additional 4,891 shares during the period. Signaturefd LLC increased its stake in B&G Foods by 930.2% during the first quarter. Signaturefd LLC now owns 6,748 shares of the company’s stock worth $46,000 after purchasing an additional 6,093 shares during the period. CWM LLC increased its stake in B&G Foods by 61.2% during the first quarter. CWM LLC now owns 7,518 shares of the company’s stock worth $52,000 after purchasing an additional 2,855 shares during the period. Sigma Planning Corp purchased a new stake in B&G Foods during the first quarter worth about $69,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of B&G Foods during the first quarter worth approximately $72,000. 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 $4.65 on Friday. The stock has a 50 day moving average price of $4.32 and a 200 day moving average price of $5.28. The company has a quick ratio of 0.89, a current ratio of 2.93 and a debt-to-equity ratio of 3.96. The company has a market capitalization of $371.60 million, a price-to-earnings ratio of -1.64 and a beta of 0.46. B&G Foods, Inc. has a 52-week low of $3.67 and a 52-week high of $9.44.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $424.43 million during the quarter, compared to analyst estimates of $427.80 million. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Research analysts predict that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 16.4%. The ex-dividend date of this dividend is Tuesday, September 30th. B&G Foods’s dividend payout ratio is -26.86%.

Analyst Ratings Changes

BGS has been the topic of a number of recent research reports. Barclays cut their target price on shares of B&G Foods from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Royal Bank Of Canada cut their target price on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Finally, Piper Sandler cut their target price on shares of B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, B&G Foods has a consensus rating of “Reduce” and an average target price of $6.10.

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.