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

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average recommendation of “Reduce” from the five analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $8.10.

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

Institutional Investors Weigh In On B&G Foods

Several hedge funds and other institutional investors have recently made changes to their positions in BGS. Dimensional Fund Advisors LP lifted its stake in B&G Foods by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock valued at $23,106,000 after purchasing an additional 744,898 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of B&G Foods by 13.7% in the 4th quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock valued at $15,342,000 after acquiring an additional 267,455 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of B&G Foods by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock valued at $12,468,000 after acquiring an additional 5,646 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of B&G Foods by 55.7% during the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company’s stock valued at $7,805,000 after acquiring an additional 405,033 shares in the last quarter. Finally, Northern Trust Corp grew its position in B&G Foods by 10.0% during the 4th quarter. Northern Trust Corp now owns 872,186 shares of the company’s stock worth $6,009,000 after acquiring an additional 79,226 shares during the last quarter. 66.15% of the stock is owned by institutional investors.

B&G Foods Stock Performance

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

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. On average, research analysts expect that B&G Foods will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.19 dividend. The ex-dividend date 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 payout ratio is currently -223.52%.

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.