B&G Foods, Inc. (NYSE:BGS) Given Average Rating of “Reduce” by Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned an average rating of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.70.

Several brokerages have issued reports on BGS. Weiss Ratings reaffirmed a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. TD Cowen restated a “sell” rating on shares of B&G Foods in a report on Wednesday. Barclays increased their target price on shares of B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Evercore set a $5.00 price target on shares of B&G Foods in a research note on Wednesday.

B&G Foods Stock Performance

Shares of BGS opened at $5.48 on Friday. B&G Foods has a 12-month low of $3.67 and a 12-month high of $8.06. The company has a market cap of $438.24 million, a PE ratio of -10.15 and a beta of 0.46. The company has a current ratio of 3.32, a quick ratio of 1.30 and a debt-to-equity ratio of 4.30. The stock has a 50-day moving average price of $4.72 and a 200-day moving average price of $4.57.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The firm had revenue of $539.56 million for the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 13.9%. The ex-dividend date of this dividend is Tuesday, March 31st. B&G Foods’s dividend payout ratio is -140.74%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc raised its stake in shares of B&G Foods by 130.8% during the second quarter. Ensign Peak Advisors Inc now owns 106,400 shares of the company’s stock valued at $450,000 after acquiring an additional 60,300 shares during the last quarter. Bank of Montreal Can grew its position in shares of B&G Foods by 457.8% in the 2nd quarter. Bank of Montreal Can now owns 80,283 shares of the company’s stock worth $340,000 after buying an additional 65,889 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of B&G Foods during the second quarter valued at approximately $178,000. Savant Capital LLC bought a new position in shares of B&G Foods during the second quarter valued at approximately $115,000. Finally, SBI Securities Co. Ltd. lifted its stake in B&G Foods by 37.0% in the second quarter. SBI Securities Co. Ltd. now owns 16,540 shares of the company’s stock worth $70,000 after acquiring an additional 4,464 shares during the period. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Company Profile

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.