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

B&G Foods, Inc. (NYSE:BGS) has been given an average rating of “Reduce” by the five analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.10.

Separately, Piper Sandler decreased their price objective on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th.

B&G Foods Price Performance

Shares of NYSE BGS opened at $6.62 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The company has a market cap of $523.50 million, a price-to-earnings ratio of -19.46 and a beta of 0.47. The stock’s 50-day moving average is $6.65 and its two-hundred day moving average is $7.29. B&G Foods has a 1-year low of $5.45 and a 1-year high of $11.72.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $551.57 million for the quarter, compared to analysts’ expectations of $547.95 million. Analysts forecast that B&G Foods will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 11.49%. B&G Foods’s dividend payout ratio is presently -23.90%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in B&G Foods by 28.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock valued at $23,106,000 after acquiring an additional 744,898 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of B&G Foods by 13.7% in the 4th quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock valued at $15,342,000 after purchasing an additional 267,455 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of B&G Foods by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock valued at $12,468,000 after purchasing an additional 5,646 shares during the period. Invesco Ltd. boosted its position in shares of B&G Foods by 55.7% in the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company’s stock valued at $7,805,000 after purchasing an additional 405,033 shares during the period. Finally, Northern Trust Corp grew its stake in B&G Foods by 10.0% during the 4th quarter. Northern Trust Corp now owns 872,186 shares of the company’s stock worth $6,009,000 after buying an additional 79,226 shares during the last quarter. 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 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. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.