B&G Foods, Inc. (NYSE:BGS) Receives $13.42 Average Price Target from Analysts

B&G Foods, Inc. (NYSE:BGS) has been given a consensus rating of “Reduce” by the six ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $13.42.

A number of analysts have issued reports on the stock. StockNews.com initiated coverage on shares of B&G Foods in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Barclays reduced their price objective on shares of B&G Foods from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Thursday, July 20th. Finally, Piper Sandler lowered their target price on shares of B&G Foods from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, July 28th.

B&G Foods Trading Down 3.1 %

NYSE BGS opened at $11.13 on Thursday. The company has a current ratio of 3.96, a quick ratio of 1.04 and a debt-to-equity ratio of 2.59. B&G Foods has a 1-year low of $10.91 and a 1-year high of $21.52. The firm’s fifty day simple moving average is $13.03 and its 200-day simple moving average is $13.97. The company has a market capitalization of $804.59 million, a PE ratio of -38.38 and a beta of 0.45.

B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. B&G Foods had a positive return on equity of 9.43% and a negative net margin of 1.00%. The company had revenue of $469.64 million for the quarter, compared to analyst estimates of $461.03 million. As a group, sell-side analysts anticipate that B&G Foods will post 1.06 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend is Thursday, September 28th. B&G Foods’s dividend payout ratio (DPR) is -262.07%.

Insider Activity

In other B&G Foods news, EVP Jordan E. Greenberg sold 13,000 shares of B&G Foods stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $13.45, for a total value of $174,850.00. Following the transaction, the executive vice president now directly owns 56,999 shares of the company’s stock, valued at approximately $766,636.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of B&G Foods

Institutional investors have recently modified their holdings of the company. Rodgers Brothers Inc. boosted its stake in B&G Foods by 2.4% during the first quarter. Rodgers Brothers Inc. now owns 25,740 shares of the company’s stock worth $694,000 after buying an additional 615 shares in the last quarter. Versant Capital Management Inc increased its stake in B&G Foods by 14.2% in the first quarter. Versant Capital Management Inc now owns 5,750 shares of the company’s stock valued at $89,000 after acquiring an additional 715 shares during the period. Avantax Advisory Services Inc. raised its position in B&G Foods by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 18,784 shares of the company’s stock worth $292,000 after purchasing an additional 745 shares in the last quarter. Richard P Slaughter Associates Inc raised its position in B&G Foods by 0.9% in the second quarter. Richard P Slaughter Associates Inc now owns 87,452 shares of the company’s stock worth $1,217,000 after purchasing an additional 772 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in B&G Foods by 8.3% during the second quarter. ProShare Advisors LLC now owns 11,137 shares of the company’s stock worth $155,000 after purchasing an additional 854 shares during the period. Institutional investors and hedge funds own 63.15% of the company’s stock.

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