B&G Foods, Inc. (NYSE:BGS) Receives Consensus Recommendation of “Reduce” from Analysts

B&G Foods, Inc. (NYSE:BGS) has been given an average recommendation of “Reduce” by the five analysts that are presently covering the stock, MarketBeat reports. One equities research 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 analysts that have updated their coverage on the stock in the last year is $8.10.

Separately, Piper Sandler cut 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, February 26th.

Institutional Trading of B&G Foods

Institutional investors have recently made changes to their positions in the stock. Dana Investment Advisors Inc. lifted its position in B&G Foods by 20.3% during the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company’s stock valued at $5,269,000 after buying an additional 129,202 shares in the last quarter. Barclays PLC boosted its position in B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after purchasing an additional 98,824 shares during the period. Verition Fund Management LLC increased its holdings in B&G Foods by 3,480.9% in the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after purchasing an additional 368,799 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in B&G Foods in the fourth quarter valued at about $857,000. Finally, Principal Financial Group Inc. lifted its stake in shares of B&G Foods by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock worth $2,644,000 after purchasing an additional 10,742 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Stock Up 2.7 %

BGS stock opened at $7.09 on Friday. 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 company’s 50 day simple moving average is $6.64 and its 200-day simple moving average is $7.35. B&G Foods has a 12 month low of $5.45 and a 12 month high of $11.79. The firm has a market capitalization of $560.69 million, a PE ratio of -20.84 and a beta of 0.47.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating 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 firm had revenue of $551.57 million for the quarter, compared to analysts’ expectations of $547.95 million. Equities analysts expect that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 10.73%. B&G Foods’s dividend payout ratio is presently -23.90%.

About B&G Foods

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.