Barclays Cuts B&G Foods (NYSE:BGS) Price Target to $4.00

B&G Foods (NYSE:BGS) had its price objective reduced by Barclays from $5.00 to $4.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Piper Sandler decreased their price target on shares of B&G Foods from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.10.

B&G Foods Trading Up 1.4%

Shares of BGS opened at $4.13 on Tuesday. The business’s 50-day moving average price is $4.30 and its 200 day moving average price is $5.80. The company has a current ratio of 3.32, a quick ratio of 1.07 and a debt-to-equity ratio of 3.90. The stock has a market capitalization of $329.18 million, a P/E ratio of -1.55 and a beta of 0.54. B&G Foods has a 1-year low of $3.97 and a 1-year high of $9.44.

B&G Foods (NYSE:BGS) last released its earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The firm had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $459.40 million. B&G Foods had a positive return on equity of 7.00% and a negative net margin of 11.16%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. Analysts expect that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 18.42%. The ex-dividend date is Monday, June 30th. B&G Foods’s payout ratio is currently -28.57%.

Institutional Investors Weigh In On B&G Foods

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in B&G Foods by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock valued at $23,106,000 after acquiring an additional 744,898 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of B&G Foods by 4,994.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,264,936 shares of the company’s stock worth $15,560,000 after purchasing an additional 2,220,473 shares during the last quarter. American Century Companies Inc. increased its stake in shares of B&G Foods by 13.7% during the 4th quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock worth $15,342,000 after purchasing an additional 267,455 shares during the last quarter. Millennium Management LLC raised its holdings in shares of B&G Foods by 15,131.8% during the 1st quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after purchasing an additional 1,875,589 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of B&G Foods by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock valued at $12,468,000 after purchasing an additional 5,646 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

About B&G Foods

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.