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

Posted by Defense World Staff on Mar 16th, 2023

Shares of B&G Foods, Inc. (NYSE:BGS – Get Rating) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.70.

A number of equities analysts have recently issued reports on the company. Consumer Edge downgraded B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 price objective for the company. in a research report on Thursday, December 1st. StockNews.com assumed coverage on B&G Foods in a research report on Thursday. They set a “sell” rating for the company.

B&G Foods Stock Performance

NYSE:BGS opened at $15.02 on Thursday. The stock’s 50-day simple moving average is $13.70 and its 200 day simple moving average is $14.75. The firm has a market capitalization of $1.08 billion, a PE ratio of -100.13 and a beta of 0.44. The company has a quick ratio of 1.08, a current ratio of 3.75 and a debt-to-equity ratio of 2.70. B&G Foods has a twelve month low of $10.91 and a twelve month high of $29.33.

B&G Foods (NYSE:BGS – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.17. The business had revenue of $623.23 million for the quarter, compared to analyst estimates of $583.86 million. B&G Foods had a positive return on equity of 8.97% and a negative net margin of 0.53%. B&G Foods’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, analysts anticipate that B&G Foods will post 1.03 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, March 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.06%. B&G Foods’s dividend payout ratio (DPR) is -506.67%.

Insiders Place Their Bets

In other B&G Foods news, CFO Bruce C. Wacha sold 12,500 shares of B&G Foods stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $14.81, for a total value of $185,125.00. Following the completion of the sale, the chief financial officer now directly owns 46,491 shares in the company, valued at $688,531.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On B&G Foods

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in B&G Foods by 1.3% in the third quarter. BlackRock Inc. now owns 11,268,543 shares of the company’s stock worth $185,818,000 after purchasing an additional 145,921 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of B&G Foods by 5.6% during the third quarter. Vanguard Group Inc. now owns 8,543,629 shares of the company’s stock valued at $140,884,000 after acquiring an additional 453,830 shares in the last quarter. State Street Corp increased its holdings in shares of B&G Foods by 2.3% during the third quarter. State Street Corp now owns 3,829,591 shares of the company’s stock valued at $64,883,000 after acquiring an additional 85,627 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of B&G Foods by 8.2% during the third quarter. Bank of New York Mellon Corp now owns 1,337,741 shares of the company’s stock valued at $22,059,000 after acquiring an additional 101,926 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of B&G Foods by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,325,442 shares of the company’s stock valued at $14,778,000 after acquiring an additional 69,006 shares in the last quarter. 63.71% of the stock is currently owned by institutional investors.

B&G Foods Company Profile

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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.