Charles Schwab Investment Management Inc. Has $7.02 Million Stake in B&G Foods, Inc. (NYSE:BGS)

Charles Schwab Investment Management Inc. trimmed its stake in B&G Foods, Inc. (NYSE:BGS) by 27.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,019,422 shares of the company’s stock after selling 382,880 shares during the period. Charles Schwab Investment Management Inc.’s holdings in B&G Foods were worth $7,024,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in B&G Foods during the 4th quarter worth about $79,000. Proficio Capital Partners LLC acquired a new stake in shares of B&G Foods in the 4th quarter valued at about $103,000. Principal Financial Group Inc. grew its stake in shares of B&G Foods by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock valued at $2,644,000 after buying an additional 10,742 shares during the period. Rhumbline Advisers grew its stake in shares of B&G Foods by 1.2% in the 4th quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock valued at $1,730,000 after buying an additional 2,898 shares during the period. Finally, Empowered Funds LLC increased its holdings in B&G Foods by 5.1% during the 4th quarter. Empowered Funds LLC now owns 331,814 shares of the company’s stock worth $2,286,000 after purchasing an additional 16,194 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Trading Up 2.7 %

Shares of B&G Foods stock opened at $7.09 on Monday. B&G Foods, Inc. has a 1 year low of $5.45 and a 1 year high of $11.79. The firm has a market cap of $560.69 million, a PE ratio of -20.84 and a beta of 0.47. The stock has a fifty day moving average price of $6.64 and a 200-day moving average price of $7.35. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49.

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

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 10.73%. B&G Foods’s payout ratio is -23.90%.

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price target on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.10.

B&G Foods 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.