B&G Foods, Inc. (NYSE:BGS) Given Average Rating of “Reduce” by Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average recommendation of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.10.

BGS has been the topic of several recent research reports. TD Cowen decreased 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. Evercore ISI lowered their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. Barclays reduced their price objective on shares of 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. Finally, Piper Sandler lowered their target price on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday.

B&G Foods Price Performance

BGS traded up $0.08 during trading on Wednesday, hitting $6.91. The company’s stock had a trading volume of 494,076 shares, compared to its average volume of 1,538,594. The firm’s 50 day moving average price is $6.59 and its two-hundred day moving average price is $7.50. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $546.60 million, a price-to-earnings ratio of -20.40 and a beta of 0.50. B&G Foods has a 12 month low of $5.45 and a 12 month high of $11.97.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $551.57 million for the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. Sell-side analysts forecast that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.01%. B&G Foods’s dividend payout ratio (DPR) is -223.52%.

Institutional Investors Weigh In On B&G Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in BGS. PNC Financial Services Group Inc. increased its position in shares of 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 worth $55,000 after purchasing an additional 2,658 shares during the last quarter. Independent Wealth Network Inc. bought a new position in shares of B&G Foods in the fourth quarter valued at $77,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in B&G Foods during the third quarter worth $102,000. SBI Securities Co. Ltd. bought a new stake in B&G Foods during the fourth quarter worth $79,000. Finally, Regent Peak Wealth Advisors LLC bought a new stake in B&G Foods during the fourth quarter worth $81,000. 66.15% of the stock is owned by institutional investors.

B&G Foods Company 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.