B&G Foods (NYSE:BGS) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of B&G Foods (NYSE:BGSGet Rating) from a hold rating to a sell rating in a research note released on Monday morning.

A number of other research analysts have also recently commented on the stock. BMO Capital Markets decreased their target price on shares of B&G Foods from $36.00 to $32.00 in a research report on Wednesday, March 2nd. Credit Suisse Group decreased their target price on shares of B&G Foods from $27.00 to $26.00 and set an underperform rating on the stock in a research report on Wednesday, March 2nd. Finally, Zacks Investment Research raised shares of B&G Foods from a sell rating to a hold rating and set a $28.00 target price on the stock in a research report on Wednesday, May 4th.

Shares of BGS stock opened at $25.15 on Monday. The company’s 50-day moving average price is $27.39 and its 200-day moving average price is $29.87. The company has a current ratio of 3.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.46. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 25.93 and a beta of 0.31. B&G Foods has a twelve month low of $24.08 and a twelve month high of $36.52.

B&G Foods (NYSE:BGSGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $532.41 million for the quarter, compared to analyst estimates of $512.02 million. B&G Foods had a net margin of 3.08% and a return on equity of 13.09%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, equities research analysts predict that B&G Foods will post 1.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Thursday, March 31st were given a dividend of $0.475 per share. The ex-dividend date was Wednesday, March 30th. This represents a $1.90 annualized dividend and a dividend yield of 7.55%. B&G Foods’s dividend payout ratio is presently 195.88%.

Institutional investors and hedge funds have recently modified their holdings of the company. IndexIQ Advisors LLC lifted its position in shares of B&G Foods by 269.9% during the third quarter. IndexIQ Advisors LLC now owns 947 shares of the company’s stock worth $28,000 after purchasing an additional 691 shares in the last quarter. Horizon Financial Services LLC acquired a new stake in shares of B&G Foods during the fourth quarter worth about $29,000. CWM LLC acquired a new stake in shares of B&G Foods during the fourth quarter worth about $29,000. Albion Financial Group UT acquired a new stake in shares of B&G Foods during the fourth quarter worth about $31,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of B&G Foods during the first quarter worth about $34,000. 64.72% of the stock is currently owned by institutional investors and hedge funds.

About B&G Foods (Get Rating)

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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

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