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

Shares of B&G Foods, Inc. (NYSE:BGS) have received a consensus rating of “Reduce” from the five analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.30.

A number of equities research analysts have commented on the company. Evercore ISI reduced their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. TD Cowen lowered their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Barclays decreased their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other news, Director Stephen Sherrill acquired 70,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the acquisition, the director now directly owns 353,084 shares in the company, valued at approximately $2,340,946.92. This represents a 24.73 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott E. Lerner bought 7,611 shares of B&G Foods stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $6.57 per share, for a total transaction of $50,004.27. Following the acquisition, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at $1,292,680.35. The trade was a 4.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 90,111 shares of company stock valued at $593,054 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Institutional Trading of B&G Foods

A number of institutional investors have recently modified their holdings of BGS. Price T Rowe Associates Inc. MD grew its stake in B&G Foods by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock worth $628,000 after buying an additional 3,979 shares during the period. California State Teachers Retirement System increased its holdings in B&G Foods by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock valued at $898,000 after purchasing an additional 2,466 shares in the last quarter. Cetera Advisors LLC purchased a new position in B&G Foods in the first quarter valued at about $202,000. CWM LLC lifted its stake in shares of B&G Foods by 99.9% during the second quarter. CWM LLC now owns 14,469 shares of the company’s stock worth $117,000 after purchasing an additional 7,231 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of B&G Foods by 47.8% in the second quarter. SG Americas Securities LLC now owns 25,462 shares of the company’s stock worth $206,000 after buying an additional 8,231 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of NYSE:BGS opened at $7.55 on Tuesday. The firm has a market capitalization of $597.66 million, a P/E ratio of -22.21 and a beta of 0.54. B&G Foods has a 12 month low of $6.12 and a 12 month high of $11.97. The company’s fifty day moving average price is $7.56 and its 200 day moving average price is $8.22. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. As a group, sell-side analysts predict that B&G Foods will post 0.71 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 10.07%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is -223.52%.

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