B&G Foods, Inc. (NYSE:BGS) Receives $8.67 Average Target Price from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned a consensus recommendation of “Hold” from the four brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.67.

A number of research firms recently weighed in on BGS. Evercore ISI raised shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Piper Sandler lowered their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Barclays decreased their target price on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the completion of the sale, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at $550,571.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BGS. Everence Capital Management Inc. raised its position in B&G Foods by 126.5% in the 3rd quarter. Everence Capital Management Inc. now owns 27,450 shares of the company’s stock valued at $244,000 after purchasing an additional 15,330 shares during the last quarter. nVerses Capital LLC increased its stake in shares of B&G Foods by 34.1% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock valued at $49,000 after buying an additional 1,400 shares during the period. Creative Planning raised its position in shares of B&G Foods by 94.5% during the third quarter. Creative Planning now owns 37,744 shares of the company’s stock worth $335,000 after acquiring an additional 18,340 shares during the last quarter. Gilman Hill Asset Management LLC increased its position in B&G Foods by 5.8% in the third quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company’s stock worth $5,652,000 after purchasing an additional 34,768 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of B&G Foods by 56.0% in the 3rd quarter. SG Americas Securities LLC now owns 39,718 shares of the company’s stock valued at $353,000 after purchasing an additional 14,256 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Trading Down 0.4 %

Shares of BGS stock opened at $8.17 on Monday. B&G Foods has a fifty-two week low of $7.62 and a fifty-two week high of $11.97. The firm’s 50 day moving average price is $8.58 and its two-hundred day moving average price is $8.98. The stock has a market cap of $645.45 million, a price-to-earnings ratio of -5.67 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $444.60 million during the quarter, compared to the consensus estimate of $435.83 million. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, analysts anticipate that B&G Foods 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. Investors of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.31%. B&G Foods’s dividend payout ratio (DPR) is -52.78%.

B&G Foods Company 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.