B&G Foods (NYSE:BGS) Receives “Sell (E+)” Rating from Weiss Ratings

Weiss Ratings reissued their sell (e+) rating on shares of B&G Foods (NYSE:BGS) in a report issued on Tuesday morning,Weiss Ratings reports.

Several other brokerages also recently commented on BGS. Zacks Research raised shares of B&G Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Barclays lowered their price objective on shares of B&G Foods from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada lowered their price objective on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $6.10.

B&G Foods Stock Up 4.7%

BGS opened at $4.37 on Tuesday. The company has a fifty day moving average price of $4.41 and a 200-day moving average price of $4.79. The firm has a market capitalization of $349.20 million, a P/E ratio of -1.54 and a beta of 0.44. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89. B&G Foods has a one year low of $3.67 and a one year high of $8.90.

B&G Foods (NYSE:BGS) last announced its earnings results on Monday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%.The company had revenue of $424.43 million during the quarter, compared to analysts’ expectations of $427.80 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Equities research analysts expect that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 17.4%. The ex-dividend date of this dividend is Tuesday, September 30th. B&G Foods’s dividend payout ratio is presently -26.86%.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors have recently bought and sold shares of BGS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of B&G Foods by 4,994.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,264,936 shares of the company’s stock valued at $15,560,000 after purchasing an additional 2,220,473 shares in the last quarter. Millennium Management LLC increased its stake in shares of B&G Foods by 15,131.8% during the first 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. Bank of America Corp DE increased its stake in shares of B&G Foods by 142.7% during the second quarter. Bank of America Corp DE now owns 1,193,473 shares of the company’s stock valued at $5,048,000 after purchasing an additional 701,660 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of B&G Foods by 1,574.4% during the first quarter. Cubist Systematic Strategies LLC now owns 685,118 shares of the company’s stock valued at $4,707,000 after purchasing an additional 644,200 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of B&G Foods by 566.8% during the second quarter. Marshall Wace LLP now owns 700,640 shares of the company’s stock valued at $2,964,000 after purchasing an additional 595,571 shares in the last quarter. 66.15% of the stock is owned by institutional investors.

B&G Foods Company Profile

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.