Cubist Systematic Strategies LLC Takes $367,000 Position in B&G Foods, Inc. (NYSE:BGS)

Cubist Systematic Strategies LLC acquired a new stake in B&G Foods, Inc. (NYSE:BGS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,189 shares of the company’s stock, valued at approximately $367,000.

Several other hedge funds also recently modified their holdings of BGS. Morgan Stanley lifted its holdings in shares of B&G Foods by 36.7% in the 2nd quarter. Morgan Stanley now owns 1,384,406 shares of the company’s stock valued at $45,409,000 after buying an additional 371,512 shares during the period. Amundi acquired a new position in shares of B&G Foods in the 2nd quarter valued at about $8,922,000. Amundi Asset Management US Inc. lifted its holdings in shares of B&G Foods by 131.2% in the 1st quarter. Amundi Asset Management US Inc. now owns 346,830 shares of the company’s stock valued at $10,773,000 after buying an additional 196,830 shares during the period. Millennium Management LLC lifted its holdings in shares of B&G Foods by 1,287.3% in the 1st quarter. Millennium Management LLC now owns 165,396 shares of the company’s stock valued at $5,137,000 after buying an additional 153,474 shares during the period. Finally, State Street Corp lifted its holdings in shares of B&G Foods by 5.0% in the 2nd quarter. State Street Corp now owns 2,929,770 shares of the company’s stock valued at $97,436,000 after buying an additional 138,748 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.

NYSE BGS opened at $30.54 on Thursday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 23.49 and a beta of 0.34. B&G Foods, Inc. has a twelve month low of $26.16 and a twelve month high of $47.84. The company has a current ratio of 3.11, a quick ratio of 0.88 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of $30.55 and a 200 day moving average of $30.59.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Thursday, November 4th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The business had revenue of $514.97 million during the quarter, compared to analyst estimates of $495.36 million. B&G Foods had a return on equity of 14.36% and a net margin of 4.23%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Equities analysts predict that B&G Foods, Inc. will post 1.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Friday, December 31st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $1.90 annualized dividend and a yield of 6.22%. B&G Foods’s dividend payout ratio (DPR) is currently 146.15%.

Separately, Piper Sandler cut B&G Foods from a “neutral” rating to an “underweight” rating and set a $27.00 price target for the company. in a report on Friday, November 5th.

About B&G Foods

B&G Foods, Incis 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.

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Institutional Ownership by Quarter for B&G Foods (NYSE:BGS)

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