B&G Foods, Inc. (NYSE:BGS) Given Consensus Recommendation of “Strong Sell” by Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average rating of “Strong Sell” from the four analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and one has issued a hold recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.13.

A number of analysts have recently commented on the company. TheStreet downgraded B&G Foods from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. StockNews.com cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. TD Cowen reduced their price objective on shares of B&G Foods from $10.00 to $9.50 and set an “underperform” rating for the company in a research report on Tuesday, September 19th. Piper Sandler downgraded shares of B&G Foods from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $14.00 to $8.00 in a report on Tuesday, October 3rd. Finally, Barclays reduced their target price on shares of B&G Foods from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, October 12th.

Institutional Trading of B&G Foods

Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in B&G Foods by 124.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the company’s stock valued at $29,000 after purchasing an additional 1,039 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of B&G Foods during the 1st quarter valued at $60,000. Nomura Asset Management Co. Ltd. increased its stake in shares of B&G Foods by 117.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $31,000 after acquiring an additional 1,080 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of B&G Foods during the first quarter worth $33,000. Finally, State of Wyoming acquired a new stake in B&G Foods during the second quarter valued at $30,000. 63.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Stock Up 0.3 %

Shares of B&G Foods stock opened at $9.45 on Tuesday. B&G Foods has a 1-year low of $7.20 and a 1-year high of $16.68. The company has a market capitalization of $742.96 million, a P/E ratio of -16.58 and a beta of 0.53. The business’s fifty day moving average price is $9.12 and its two-hundred day moving average price is $11.85. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.52 and a quick ratio of 0.76.

B&G Foods (NYSE:BGS) last announced its earnings results on Wednesday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. B&G Foods had a negative net margin of 2.11% and a positive return on equity of 9.23%. The firm had revenue of $502.73 million during the quarter, compared to analyst estimates of $505.34 million. During the same quarter in the prior year, the firm posted $0.31 EPS. B&G Foods’s revenue was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that B&G Foods will post 0.99 EPS for the current year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 8.04%. The ex-dividend date is Thursday, December 28th. B&G Foods’s payout ratio is -133.33%.

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.