B&G Foods, Inc. (NYSE:BGS) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in B&G Foods, Inc. (NYSE:BGS) by 50.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,913 shares of the company’s stock after acquiring an additional 2,658 shares during the quarter. PNC Financial Services Group Inc.’s holdings in B&G Foods were worth $55,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BGS. Independent Wealth Network Inc. purchased a new stake in shares of B&G Foods during the fourth quarter worth about $77,000. SBI Securities Co. Ltd. purchased a new stake in B&G Foods during the 4th quarter worth approximately $79,000. Regent Peak Wealth Advisors LLC purchased a new stake in B&G Foods during the 4th quarter worth approximately $81,000. Prism Advisors Inc. purchased a new position in shares of B&G Foods during the 4th quarter valued at approximately $82,000. Finally, Fifth Third Bancorp boosted its stake in shares of B&G Foods by 260.9% during the 4th quarter. Fifth Third Bancorp now owns 13,500 shares of the company’s stock valued at $93,000 after buying an additional 9,759 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Trading Down 0.0 %

NYSE:BGS opened at $6.60 on Thursday. The company has a market cap of $522.23 million, a PE ratio of -19.41 and a beta of 0.47. The business’s 50 day moving average is $6.64 and its two-hundred day moving average is $7.32. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a 52 week low of $5.45 and a 52 week high of $11.79.

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

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.52%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio is presently -23.90%.

Wall Street Analyst Weigh In

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 equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.10.

About B&G Foods

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.