B&G Foods, Inc. (NYSE:BGS) Given Average Rating of “Reduce” by Brokerages

B&G Foods, Inc. (NYSE:BGS) has received an average rating of “Reduce” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.10.

Separately, Piper Sandler dropped their price objective on shares of B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dana Investment Advisors Inc. grew its holdings in B&G Foods by 20.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company’s stock valued at $5,269,000 after purchasing an additional 129,202 shares during the period. Raymond James Financial Inc. purchased a new stake in B&G Foods in the 4th quarter worth $1,132,000. Barclays PLC raised 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 worth $1,160,000 after acquiring an additional 98,824 shares during the period. Wedge Capital Management L L P NC purchased a new position in B&G Foods during the fourth quarter valued at $857,000. Finally, Intech Investment Management LLC grew its position in shares of B&G Foods by 130.9% in the fourth quarter. Intech Investment Management LLC now owns 108,675 shares of the company’s stock valued at $749,000 after purchasing an additional 61,619 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of BGS opened at $6.15 on Thursday. The firm has a market capitalization of $486.70 million, a PE ratio of -18.09 and a beta of 0.74. 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 company’s fifty day moving average price is $6.62 and its 200-day moving average price is $7.04. B&G Foods has a 1-year low of $5.45 and a 1-year high of $11.72.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The business had revenue of $551.57 million for the quarter, compared to analyst estimates of $547.95 million. On average, equities research analysts predict that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 12.36%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

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. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.