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 six research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $4.70.

BGS has been the topic of a number of analyst reports. TD Cowen reiterated a “sell” rating on shares of B&G Foods in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. Evercore set a $5.00 target price on shares of B&G Foods in a research note on Wednesday, March 4th. Finally, Barclays increased their target price on shares of B&G Foods from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th.

B&G Foods Stock Down 5.7%

Shares of B&G Foods stock opened at $4.81 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 3.32 and a debt-to-equity ratio of 4.30. B&G Foods has a 12 month low of $3.67 and a 12 month high of $7.24. The business has a fifty day simple moving average of $5.00 and a 200 day simple moving average of $4.64. The stock has a market cap of $384.66 million, a PE ratio of -8.91 and a beta of 0.46.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The firm had revenue of $539.56 million for the quarter, compared to analyst estimates of $537.50 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Research analysts predict that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a $0.19 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 15.8%. B&G Foods’s dividend payout ratio is currently -140.74%.

Insider Buying and Selling

In other B&G Foods news, Director David L. Wenner sold 19,500 shares of B&G Foods stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $101,205.00. Following the transaction, the director directly owned 787,566 shares in the company, valued at approximately $4,087,467.54. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew D. Vogel sold 20,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total value of $103,800.00. Following the completion of the transaction, the executive vice president directly owned 50,679 shares of the company’s stock, valued at approximately $263,024.01. The trade was a 28.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 50,821 shares of company stock valued at $266,138. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On B&G Foods

Several institutional investors and hedge funds have recently modified their holdings of BGS. Y Intercept Hong Kong Ltd boosted its stake in B&G Foods by 414.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 216,332 shares of the company’s stock worth $958,000 after purchasing an additional 174,312 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of B&G Foods in the 3rd quarter valued at about $84,000. Inscription Capital LLC bought a new stake in shares of B&G Foods in the third quarter valued at about $84,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of B&G Foods by 299.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 59,961 shares of the company’s stock valued at $259,000 after purchasing an additional 44,968 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of B&G Foods during the third quarter worth about $105,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.