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

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned a consensus recommendation of “Reduce” from the five research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $8.10.

BGS has been the topic of a number of analyst reports. Evercore ISI lowered their price objective on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. Barclays lowered their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. TD Cowen lowered their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. Finally, Piper Sandler lowered their price objective on B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday.

Institutional Investors Weigh In On B&G Foods

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its stake in shares of B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after purchasing an additional 98,824 shares during the period. Verition Fund Management LLC lifted its stake in shares of B&G Foods by 3,480.9% during the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock worth $3,369,000 after purchasing an additional 368,799 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of B&G Foods during the 4th quarter worth $857,000. Point72 Asset Management L.P. purchased a new position in shares of B&G Foods during the 3rd quarter worth $962,000. Finally, GAMMA Investing LLC lifted its stake in shares of B&G Foods by 346.0% during the 4th quarter. GAMMA Investing LLC now owns 25,179 shares of the company’s stock worth $173,000 after purchasing an additional 19,534 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Performance

Shares of BGS stock opened at $6.70 on Wednesday. The stock’s 50-day moving average is $6.58 and its two-hundred day moving average is $7.50. The firm has a market cap of $530.00 million, a price-to-earnings ratio of -19.69 and a beta of 0.50. B&G Foods has a 1 year low of $5.45 and a 1 year high of $11.97. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

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

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 11.35%. The ex-dividend date is Monday, March 31st. B&G Foods’s payout ratio is currently -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.