B&G Foods, Inc. (NYSE:BGS) Receives $7.10 Average PT from Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average recommendation of “Reduce” from the five brokerages that are covering the firm, 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 12-month price objective among brokers that have issued a report on the stock in the last year is $7.10.

BGS has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of B&G Foods from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 15th. Piper Sandler dropped their target price on shares of B&G Foods from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th.

Institutional Trading of B&G Foods

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of B&G Foods by 28.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock worth $23,106,000 after purchasing an additional 744,898 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in B&G Foods by 4,994.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,264,936 shares of the company’s stock valued at $15,560,000 after purchasing an additional 2,220,473 shares during the last quarter. American Century Companies Inc. lifted its stake in B&G Foods by 13.7% in the fourth 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. Millennium Management LLC grew its holdings in B&G Foods by 15,131.8% during the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after purchasing an additional 1,875,589 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of B&G Foods by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock valued at $12,468,000 after buying an additional 5,646 shares during the period. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Price Performance

Shares of NYSE:BGS opened at $4.14 on Friday. The firm has a market cap of $330.37 million, a PE ratio of -1.56 and a beta of 0.54. B&G Foods has a 52 week low of $3.97 and a 52 week high of $9.44. The firm’s fifty day moving average is $4.30 and its 200-day moving average is $5.64. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.07 and a current ratio of 3.32.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). B&G Foods had a negative net margin of 11.16% and a positive return on equity of 7.00%. The company had revenue of $425.40 million during the quarter, compared to the consensus estimate of $459.40 million. During the same quarter last year, the firm posted $0.18 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Sell-side analysts predict that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 18.36%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.