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

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

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

B&G Foods Trading Up 2.7 %

Shares of BGS opened at $7.09 on Friday. B&G Foods has a one year low of $5.45 and a one year high of $11.79. The stock has a 50-day moving average price of $6.64 and a 200 day moving average price of $7.35. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The company has a market capitalization of $560.69 million, a P/E ratio of -20.84 and a beta of 0.47.

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, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. Sell-side analysts forecast that B&G Foods will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a dividend yield of 10.73%. B&G Foods’s dividend payout ratio is presently -23.90%.

Institutional Trading of B&G Foods

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of B&G Foods by 28.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock worth $23,106,000 after purchasing an additional 744,898 shares in the last quarter. American Century Companies Inc. lifted its holdings in B&G Foods by 13.7% in the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock worth $15,342,000 after purchasing an additional 267,455 shares during the period. Geode Capital Management LLC grew its position in B&G Foods by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock valued at $12,468,000 after buying an additional 5,646 shares in the last quarter. Invesco Ltd. increased its stake in B&G Foods by 55.7% during the 4th quarter. Invesco Ltd. now owns 1,132,834 shares of the company’s stock valued at $7,805,000 after buying an additional 405,033 shares during the period. Finally, Northern Trust Corp raised its position in shares of B&G Foods by 10.0% during the 4th quarter. Northern Trust Corp now owns 872,186 shares of the company’s stock worth $6,009,000 after buying an additional 79,226 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.