BlackRock Amends B&G Foods Stake to 9.9% as of Dec 31, 2023
Ticker: BGS · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 1278027
| Field | Detail |
|---|---|
| Company | B&G Foods, INC. (BGS) |
| Form Type | SC 13G/A |
| Filed Date | Jan 22, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, amendment, stake-change
TL;DR
**BlackRock trimmed its B&G Foods stake to 9.9% as of year-end 2023.**
AI Summary
BlackRock Inc. has updated its ownership stake in B&G Foods, Inc. (NYSE: BGS) as of December 31, 2023, through an Amendment No. 15 to its Schedule 13G filing. This filing indicates that BlackRock now beneficially owns 7,094,304 shares of B&G Foods' Common Stock, representing 9.9% of the company's outstanding shares. This matters to investors because BlackRock, a major institutional investor, has slightly reduced its stake from a previous filing, which could signal a shift in their outlook on B&G Foods' future performance.
Why It Matters
A change in ownership by a large institutional investor like BlackRock can influence market sentiment and potentially impact B&G Foods' stock price, as it reflects their updated investment strategy.
Risk Assessment
Risk Level: medium — A reduction in a significant institutional holding could indicate a perceived increase in risk or a less favorable outlook for the company by a major investor.
Analyst Insight
Investors should monitor B&G Foods' upcoming earnings reports and any further institutional ownership changes to understand the broader sentiment, especially given BlackRock's slight reduction in stake.
Key Numbers
- 7,094,304 — Shares Beneficially Owned (Represents BlackRock's total holding in B&G Foods' Common Stock.)
- 9.9% — Percentage of Class (Indicates BlackRock's significant, but slightly reduced, ownership stake in B&G Foods.)
- December 31, 2023 — Reporting Date (The snapshot date for BlackRock's ownership, providing a recent view of their position.)
- Amendment No: 15 — Filing Amendment Number (Shows this is an updated filing, indicating a change from previous disclosures.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- B&G Foods, Inc. (company) — the subject company whose shares are being reported
- 7,094,304 shares (dollar_amount) — the total number of shares beneficially owned by BlackRock
- 9.9% (dollar_amount) — the percentage of B&G Foods' class of securities beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing of this statement
Forward-Looking Statements
- B&G Foods' stock price may experience short-term volatility due to BlackRock's adjusted stake. (B&G Foods, Inc.) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in B&G Foods following BlackRock's updated disclosure. (Institutional Investors) — low confidence, target: Q2 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing, Amendment No. 15, is filed by BlackRock Inc. to update its beneficial ownership of Common Stock in B&G Foods, Inc. as of December 31, 2023, in accordance with Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of B&G Foods, Inc. Common Stock does BlackRock Inc. beneficially own according to this filing?
According to this filing, BlackRock Inc. beneficially owns 7,094,304 shares of B&G Foods, Inc. Common Stock as of December 31, 2023.
What percentage of B&G Foods, Inc.'s Common Stock does BlackRock Inc. own?
BlackRock Inc. beneficially owns 9.9% of B&G Foods, Inc.'s Common Stock, as reported on the cover page of the filing.
What is the CUSIP number for B&G Foods, Inc. Common Stock mentioned in the filing?
The CUSIP number for B&G Foods, Inc. Common Stock is 05508R106, as stated on the cover page of the Schedule 13G.
When was the event date that required this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as indicated on the cover page of the Schedule 13G.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding B&G Foods, Inc. (BGS).