B&G Foods, Inc. (NYSE:BGS) Receives $7.30 Consensus PT from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned a consensus rating of “Reduce” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.30.

A number of equities research analysts recently issued reports on BGS shares. Piper Sandler dropped their target price on shares of B&G Foods from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Barclays cut their target price on shares of B&G Foods from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th.

B&G Foods Price Performance

BGS opened at $4.57 on Friday. The stock has a market cap of $364.28 million, a price-to-earnings ratio of -13.43 and a beta of 0.54. The stock has a fifty day moving average price of $5.39 and a 200 day moving average price of $6.31. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods has a 1 year low of $3.97 and a 1 year high of $9.68.

B&G Foods (NYSE:BGS) last posted its earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). 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 $425.40 million during the quarter, compared to analyst estimates of $459.40 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. 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, July 30th. Shareholders of record on Monday, June 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 annualized dividend and a yield of 16.65%. B&G Foods’s dividend payout ratio is presently -28.57%.

Hedge Funds Weigh In On B&G Foods

Hedge funds and other institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. increased its stake in shares of B&G Foods by 12.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock valued at $101,000 after buying an additional 1,599 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in B&G Foods by 3.1% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 53,791 shares of the company’s stock valued at $370,000 after buying an additional 1,602 shares during the period. Tower Research Capital LLC TRC raised its position in shares of B&G Foods by 5.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,158 shares of the company’s stock worth $215,000 after purchasing an additional 1,718 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of B&G Foods by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,463 shares of the company’s stock worth $306,000 after purchasing an additional 1,900 shares during the period. Finally, SummerHaven Investment Management LLC raised its position in shares of B&G Foods by 2.3% during the first quarter. SummerHaven Investment Management LLC now owns 100,737 shares of the company’s stock worth $692,000 after purchasing an additional 2,219 shares during the period. Institutional investors own 66.15% of the company’s stock.

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.