B&G Foods, Inc. (NYSE:BGS) Receives Consensus Rating of “Reduce” from Analysts

B&G Foods, Inc. (NYSE:BGS) has been assigned an average rating of “Reduce” from the five analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $7.30.

Several equities research analysts have commented on BGS shares. Barclays cut their price objective on B&G Foods from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday. Piper Sandler cut their price objective on B&G Foods from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday.

Hedge Funds Weigh In On B&G Foods

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in B&G Foods by 31.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,340,836 shares of the company’s stock valued at $9,211,000 after buying an additional 321,414 shares during the last quarter. Factorial Partners LLC lifted its stake in B&G Foods by 10.0% in the first quarter. Factorial Partners LLC now owns 107,000 shares of the company’s stock valued at $735,000 after buying an additional 9,700 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in B&G Foods by 112.3% in the first quarter. PNC Financial Services Group Inc. now owns 16,798 shares of the company’s stock valued at $115,000 after buying an additional 8,885 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in B&G Foods by 131.6% in the first quarter. Jupiter Asset Management Ltd. now owns 166,199 shares of the company’s stock valued at $1,142,000 after buying an additional 94,424 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of B&G Foods by 2.9% during the first quarter. US Bancorp DE now owns 81,823 shares of the company’s stock worth $562,000 after buying an additional 2,278 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of BGS opened at $4.48 on Monday. The stock has a 50-day moving average of $6.62 and a two-hundred day moving average of $6.77. B&G Foods has a one year low of $4.30 and a one year high of $9.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The stock has a market cap of $357.50 million, a P/E ratio of -13.18 and a beta of 0.74.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). The company had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $459.40 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, research analysts predict that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 16.96%. The ex-dividend date of this dividend was Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is presently -28.57%.

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.