Analysts Set B&G Foods, Inc. (NYSE:BGS) Price Target at $8.30

B&G Foods, Inc. (NYSE:BGS) has received an average recommendation of “Reduce” from the five brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.30.

BGS has been the subject of a number of research reports. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Evercore ISI cut their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. TD Cowen lowered their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Finally, Barclays cut their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th.

Insider Transactions at B&G Foods

In related news, EVP Andrew D. Vogel purchased 7,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were bought at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the transaction, the executive vice president now owns 37,064 shares of the company’s stock, valued at $235,727.04. This represents a 25.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Eric H. Hart acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $6.25 per share, with a total value of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at approximately $555,618.75. This represents a 5.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 90,111 shares of company stock valued at $593,054. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On B&G Foods

A number of institutional investors have recently added to or reduced their stakes in BGS. Price T Rowe Associates Inc. MD raised its stake in shares of B&G Foods by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock worth $628,000 after buying an additional 3,979 shares in the last quarter. California State Teachers Retirement System raised its position in B&G Foods by 3.2% in the first quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock worth $898,000 after acquiring an additional 2,466 shares in the last quarter. Cetera Advisors LLC acquired a new stake in B&G Foods in the 1st quarter valued at about $202,000. CWM LLC boosted its position in shares of B&G Foods by 99.9% during the 2nd quarter. CWM LLC now owns 14,469 shares of the company’s stock valued at $117,000 after purchasing an additional 7,231 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of B&G Foods by 47.8% in the 2nd quarter. SG Americas Securities LLC now owns 25,462 shares of the company’s stock worth $206,000 after purchasing an additional 8,231 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Stock Performance

BGS stock opened at $7.67 on Tuesday. The stock’s 50 day simple moving average is $7.47 and its 200 day simple moving average is $8.16. B&G Foods has a 12-month low of $6.12 and a 12-month high of $11.97. The firm has a market cap of $607.19 million, a P/E ratio of -22.56 and a beta of 0.54. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. During the same period last year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, equities research analysts predict that B&G Foods will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 9.91%. B&G Foods’s dividend payout ratio (DPR) is presently -223.53%.

About B&G Foods

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.