B&G Foods, Inc. (NYSE:BGS) Receives $8.10 Average Target Price from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average rating of “Reduce” from the five research firms 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 twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.10.

Several analysts have recently weighed in on the company. Evercore ISI lowered their target price 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. Barclays lowered their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Piper Sandler lowered their target price on B&G Foods from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, TD Cowen lowered their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th.

Hedge Funds Weigh In On B&G Foods

Large investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in B&G Foods by 310.1% in the third quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after acquiring an additional 98,824 shares during the last quarter. Verition Fund Management LLC lifted its holdings in B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock worth $3,369,000 after acquiring an additional 368,799 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in B&G Foods in the fourth quarter worth about $857,000. Point72 Asset Management L.P. bought a new position in B&G Foods in the third quarter worth about $962,000. Finally, GAMMA Investing LLC lifted its holdings in B&G Foods by 346.0% in the fourth quarter. GAMMA Investing LLC now owns 25,179 shares of the company’s stock worth $173,000 after acquiring an additional 19,534 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Down 3.5 %

Shares of NYSE BGS opened at $6.70 on Wednesday. B&G Foods has a 12-month low of $5.45 and a 12-month high of $11.97. The company has a market cap of $530.00 million, a P/E ratio of -19.69 and a beta of 0.50. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The stock has a fifty day moving average price of $6.58 and a 200 day moving average price of $7.50.

B&G Foods (NYSE:BGS) last announced 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. The company had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. Research analysts anticipate that B&G Foods will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The business also recently declared 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 11.35%. B&G Foods’s payout ratio is -23.90%.

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.