Virtu Financial LLC Acquires Shares of 24,636 B&G Foods, Inc. (NYSE:BGS)

Virtu Financial LLC bought a new position in B&G Foods, Inc. (NYSE:BGS) during the fourth quarter, HoldingsChannel.com reports. The fund bought 24,636 shares of the company’s stock, valued at approximately $170,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its position in B&G Foods by 50.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after purchasing an additional 2,658 shares during the last quarter. Independent Wealth Network Inc. purchased a new stake in shares of B&G Foods during the fourth quarter valued at approximately $77,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of B&G Foods during the third quarter valued at approximately $102,000. SBI Securities Co. Ltd. purchased a new position in B&G Foods in the 4th quarter worth approximately $79,000. Finally, Regent Peak Wealth Advisors LLC bought a new position in B&G Foods in the 4th quarter valued at approximately $81,000. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Stock Up 0.5 %

BGS opened at $6.62 on Friday. The stock has a market capitalization of $523.50 million, a price-to-earnings ratio of -19.46 and a beta of 0.47. The firm has a 50 day moving average price of $6.65 and a 200-day moving average price of $7.29. B&G Foods, Inc. has a twelve month low of $5.45 and a twelve month high of $11.72. 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 (NYSE:BGS) last announced its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.49%. B&G Foods’s dividend payout ratio is currently -23.90%.

Analyst Ratings Changes

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