B&G Foods, Inc. (NYSE:BGS) Receives $4.70 Average PT from Analysts

B&G Foods, Inc. (NYSE:BGS) has been given an average recommendation of “Reduce” by the six ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.70.

BGS has been the topic of several research reports. Evercore set a $5.00 price objective on B&G Foods in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. Barclays lifted their price target 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. Finally, TD Cowen reaffirmed a “sell” rating on shares of B&G Foods in a research report on Wednesday, March 4th.

Insider Buying and Selling at B&G Foods

In related news, EVP Andrew D. Vogel sold 20,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $5.19, for a total value of $103,800.00. Following the transaction, the executive vice president owned 50,679 shares in the company, valued at $263,024.01. The trade was a 28.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Martin C. Schoch sold 11,321 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $5.40, for a total transaction of $61,133.40. Following the sale, the executive vice president directly owned 34,347 shares in the company, valued at $185,473.80. This trade represents a 24.79% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 50,821 shares of company stock valued at $266,138. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its holdings in B&G Foods by 502.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock worth $31,000 after purchasing an additional 6,207 shares during the period. Triumph Capital Management acquired a new stake in B&G Foods in the third quarter valued at approximately $34,000. Allworth Financial LP increased its holdings in shares of B&G Foods by 49.5% during the third quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock valued at $35,000 after acquiring an additional 2,612 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of B&G Foods during the second quarter valued at approximately $35,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of B&G Foods during the third quarter worth approximately $45,000. 66.15% of the stock is owned by institutional investors.

B&G Foods Price Performance

Shares of NYSE:BGS opened at $4.97 on Wednesday. B&G Foods has a one year low of $3.67 and a one year high of $7.24. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.32 and a quick ratio of 1.43. The company has a market cap of $397.05 million, a price-to-earnings ratio of -9.19 and a beta of 0.46. The firm has a 50 day simple moving average of $5.04 and a 200 day simple moving average of $4.65.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The firm had revenue of $539.56 million for the quarter, compared to analysts’ expectations 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 company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 annualized dividend and a yield of 15.3%. B&G Foods’s dividend payout ratio is presently -140.74%.

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.