Kornitzer Capital Management Inc. KS Sells 6,195 Shares of B&G Foods, Inc. (NYSE:BGS)

Kornitzer Capital Management Inc. KS decreased its position in B&G Foods, Inc. (NYSE:BGS) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 360,015 shares of the company’s stock after selling 6,195 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.46% of B&G Foods worth $2,909,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in B&G Foods by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock worth $105,453,000 after buying an additional 1,190,116 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in B&G Foods by 11.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock valued at $18,450,000 after purchasing an additional 181,724 shares in the last quarter. Empowered Funds LLC raised its position in B&G Foods by 52.4% in the 1st quarter. Empowered Funds LLC now owns 277,940 shares of the company’s stock valued at $3,180,000 after purchasing an additional 95,580 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in B&G Foods in the fourth quarter worth $2,561,000. Finally, CWM LLC grew its holdings in shares of B&G Foods by 57.6% during the fourth quarter. CWM LLC now owns 6,257 shares of the company’s stock worth $66,000 after purchasing an additional 2,287 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Trading Up 4.9 %

Shares of NYSE BGS opened at $8.74 on Friday. B&G Foods, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $12.22. The firm has a market capitalization of $690.51 million, a P/E ratio of -6.07 and a beta of 0.61. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The company’s 50 day simple moving average is $8.28 and its 200 day simple moving average is $9.51.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The company had revenue of $444.60 million for the quarter, compared to the consensus estimate of $435.83 million. During the same quarter in the prior year, the business posted $0.15 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. On average, analysts predict that B&G Foods, Inc. will post 0.74 EPS for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.70%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

Analyst Ratings Changes

A number of research analysts recently issued reports on BGS shares. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Piper Sandler decreased their price target on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Finally, Barclays lowered their target price on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. One 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 an average rating of “Hold” and an average price target of $8.88.

Insider Activity at B&G Foods

In related news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the transaction, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

B&G Foods Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.