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

Shares of B&G Foods, Inc. (NYSE:BGS) have been given an average recommendation of “Hold” by the four brokerages that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.67.

Several equities analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a research note on Wednesday, August 7th. Evercore ISI raised shares of B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler decreased their target price on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Barclays cut their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Friday, July 19th.

Insiders Place Their Bets

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares of the company’s stock, valued at approximately $550,571.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On B&G Foods

A number of large investors have recently modified their holdings of BGS. Dana Investment Advisors Inc. lifted its position in shares of B&G Foods by 23.5% during the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after purchasing an additional 134,937 shares in the last quarter. Truist Financial Corp lifted its holdings in B&G Foods by 4.7% in the 2nd quarter. Truist Financial Corp now owns 84,534 shares of the company’s stock worth $683,000 after buying an additional 3,798 shares in the last quarter. Algert Global LLC lifted its holdings in B&G Foods by 280.2% in the 2nd quarter. Algert Global LLC now owns 55,167 shares of the company’s stock worth $446,000 after buying an additional 40,657 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in B&G Foods by 13.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,050 shares of the company’s stock valued at $243,000 after buying an additional 3,583 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of B&G Foods by 154.0% during the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock valued at $5,065,000 after acquiring an additional 380,054 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Price Performance

B&G Foods stock opened at $8.79 on Thursday. The stock has a market capitalization of $694.86 million, a P/E ratio of -6.10 and a beta of 0.60. B&G Foods has a 12-month low of $7.20 and a 12-month high of $11.97. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.63 and a quick ratio of 0.48. The firm’s 50-day moving average is $8.62 and its two-hundred day moving average is $9.28.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $444.60 million for the quarter, compared to analyst estimates of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. B&G Foods’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. Equities analysts predict that B&G Foods will post 0.74 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 8.65%. B&G Foods’s dividend payout ratio (DPR) is -52.78%.

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.