B&G Foods (NYSE:BGS) Price Target Raised to $5.00

B&G Foods (NYSE:BGS) had its price objective boosted by Barclays from $4.00 to $5.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also recently commented on the stock. TD Cowen reissued a “sell” rating on shares of B&G Foods in a research note on Wednesday. Evercore set a $5.00 target price on B&G Foods in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $4.70.

B&G Foods Price Performance

NYSE BGS opened at $5.48 on Thursday. The company has a 50-day moving average price of $4.72 and a two-hundred day moving average price of $4.57. The stock has a market cap of $438.24 million, a price-to-earnings 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. B&G Foods has a 52 week low of $3.67 and a 52 week high of $8.06.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. The business had revenue of $539.56 million during the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. Analysts forecast that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 13.9%. B&G Foods’s dividend payout ratio (DPR) is presently -140.74%.

Hedge Funds Weigh In On B&G Foods

A number of large investors have recently made changes to their positions in BGS. Alpine Global Management LLC purchased a new position in B&G Foods during the fourth quarter valued at approximately $169,000. Invesco Ltd. increased its stake in shares of B&G Foods by 23.7% in the fourth quarter. Invesco Ltd. now owns 395,974 shares of the company’s stock worth $1,703,000 after acquiring an additional 75,748 shares during the last quarter. Corient Private Wealth LLC boosted its position in B&G Foods by 50.0% during the fourth quarter. Corient Private Wealth LLC now owns 52,611 shares of the company’s stock valued at $226,000 after purchasing an additional 17,542 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in B&G Foods by 37.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,374 shares of the company’s stock valued at $191,000 after purchasing an additional 11,984 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in B&G Foods in the 4th quarter worth about $382,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

About B&G Foods

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.