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

B&G Foods, Inc. (NYSE:BGS) has received a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year target price 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 B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On B&G Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of B&G Foods by 50.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after purchasing an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. acquired a new stake in B&G Foods in the 4th quarter valued at approximately $77,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in B&G Foods in the 3rd quarter valued at approximately $102,000. SBI Securities Co. Ltd. acquired a new position in B&G Foods during the 4th quarter worth approximately $79,000. Finally, Regent Peak Wealth Advisors LLC bought a new position in shares of B&G Foods during the 4th quarter worth approximately $81,000. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Trading Down 3.5 %

NYSE BGS opened at $6.60 on Friday. B&G Foods has a 12 month low of $5.45 and a 12 month high of $11.79. The stock has a 50-day simple moving average of $6.64 and a 200 day simple moving average of $7.33. 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 capitalization of $522.31 million, a PE ratio of -19.41 and a beta of 0.47.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 EPS 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 company had revenue of $551.57 million during the quarter, compared to analysts’ expectations of $547.95 million. Research analysts forecast that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.52%. B&G Foods’s payout ratio is -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.