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

B&G Foods, Inc. (NYSE:BGS) has been assigned a consensus recommendation of “Reduce” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.30.

BGS has been the subject of a number of recent research reports. TD Cowen lowered their price objective 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. Barclays lowered their price target on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Evercore ISI reduced their price objective on shares of 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, StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th.

Insider Activity

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

Hedge Funds Weigh In On B&G Foods

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC increased its holdings in B&G Foods by 34.1% during the third quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock valued at $49,000 after buying an additional 1,400 shares during the last quarter. Rhumbline Advisers grew its position in shares of B&G Foods by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock valued at $2,010,000 after acquiring an additional 1,625 shares during the period. PFG Investments LLC increased its stake in shares of B&G Foods by 12.5% in the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after purchasing an additional 2,008 shares in the last quarter. Versor Investments LP raised its holdings in B&G Foods by 13.4% in the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after purchasing an additional 2,862 shares during the period. Finally, Foundry Partners LLC lifted its position in B&G Foods by 1.3% during the third quarter. Foundry Partners LLC now owns 245,235 shares of the company’s stock valued at $2,178,000 after purchasing an additional 3,235 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

BGS opened at $7.10 on Friday. The stock has a fifty day simple moving average of $7.16 and a two-hundred day simple moving average of $7.98. 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 company has a market cap of $562.06 million, a price-to-earnings ratio of -20.88 and a beta of 0.51. B&G Foods has a 12-month low of $6.12 and a 12-month high of $11.97.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share 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 business had revenue of $461.10 million during the quarter, compared to analysts’ expectations of $473.82 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. Research analysts predict that B&G Foods will post 0.73 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 10.70%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s dividend payout ratio is currently -223.53%.

B&G Foods Company Profile

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.