B&G Foods, Inc. (NYSE:BGS) Given Consensus Recommendation of “Hold” by Brokerages

B&G Foods, Inc. (NYSE:BGS) has received an average recommendation of “Hold” from the four research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.67.

A number of equities research analysts have issued reports on the company. Barclays cut their price target on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. StockNews.com downgraded B&G Foods from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Piper Sandler lowered their price target on B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a report on Wednesday, August 7th. Finally, Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a research report on Wednesday, August 7th.

Insider Transactions at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at $550,571.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

Several institutional investors have recently added to or reduced their stakes in BGS. Innealta Capital LLC purchased a new stake in B&G Foods in the second quarter worth $33,000. nVerses Capital LLC bought a new stake in B&G Foods during the 2nd quarter valued at about $33,000. Versant Capital Management Inc boosted its position in B&G Foods by 36.9% in the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after buying an additional 1,555 shares during the period. Russell Investments Group Ltd. grew its stake in B&G Foods by 1,556.9% in the 1st quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after acquiring an additional 4,624 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of B&G Foods during the first quarter worth approximately $60,000. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Down 1.6 %

NYSE BGS opened at $8.87 on Thursday. B&G Foods has a 52 week low of $7.20 and a 52 week high of $11.97. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $701.18 million, a P/E ratio of -6.16 and a beta of 0.60. The stock’s 50-day moving average price is $8.55 and its 200-day moving average price is $9.35.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $444.60 million for the quarter, compared to the consensus estimate of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. On average, equities research analysts predict that B&G Foods will post 0.74 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 Wednesday, October 30th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 8.57%. The ex-dividend date is Monday, September 30th. B&G Foods’s dividend payout ratio is presently -52.78%.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.