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

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned an average rating of “Reduce” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.30.

Several equities analysts recently commented on BGS shares. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. TD Cowen cut their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI decreased their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th. Finally, Barclays dropped their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th.

B&G Foods Price Performance

NYSE:BGS opened at $6.48 on Friday. The firm has a market capitalization of $512.98 million, a price-to-earnings ratio of -19.06 and a beta of 0.51. 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 business has a 50 day simple moving average of $7.02 and a 200-day simple moving average of $7.94. B&G Foods has a 1 year low of $6.12 and a 1 year high of $11.97.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities analysts forecast that B&G Foods will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.73%. B&G Foods’s payout ratio is -223.53%.

Insiders Place Their Bets

In other B&G Foods news, EVP Eric H. Hart acquired 5,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $6.25 per share, with a total value of $31,250.00. Following the completion of the purchase, the executive vice president now directly owns 88,899 shares in the company, valued at $555,618.75. The trade was a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott E. Lerner bought 7,611 shares of the business’s stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the transaction, the executive vice president now directly owns 196,755 shares in the company, valued at approximately $1,292,680.35. This trade represents a 4.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 90,111 shares of company stock worth $593,054 in the last ninety days. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On B&G Foods

A number of hedge funds and other institutional investors have recently modified their holdings of BGS. Regent Peak Wealth Advisors LLC purchased a new stake in B&G Foods during the fourth quarter worth $81,000. GAMMA Investing LLC lifted its stake in shares of B&G Foods by 346.0% during the 4th quarter. GAMMA Investing LLC now owns 25,179 shares of the company’s stock worth $173,000 after purchasing an additional 19,534 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of B&G Foods by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 178,434 shares of the company’s stock worth $1,584,000 after purchasing an additional 11,901 shares during the last quarter. Barclays PLC boosted its position in B&G Foods by 310.1% during the third quarter. Barclays PLC now owns 130,693 shares of the company’s stock valued at $1,160,000 after purchasing an additional 98,824 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in B&G Foods by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock worth $16,018,000 after purchasing an additional 24,995 shares in the last quarter. 66.15% of the stock is currently owned by 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.