Analysts Set B&G Foods, Inc. (NYSE:BGS) Price Target at $8.30

B&G Foods, Inc. (NYSE:BGS) has been given a consensus recommendation of “Reduce” by the five analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.30.

BGS has been the topic of a number of recent research reports. Barclays decreased their target price 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. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. 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, TD Cowen dropped their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th.

B&G Foods Price Performance

Shares of B&G Foods stock opened at $6.78 on Friday. B&G Foods has a 52 week low of $6.12 and a 52 week high of $11.97. 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 stock has a market cap of $536.73 million, a PE ratio of -19.94 and a beta of 0.51. The company’s 50-day moving average price is $7.09 and its two-hundred day moving average price is $7.95.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The business had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, sell-side analysts anticipate that B&G Foods will post 0.73 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.21%. B&G Foods’s dividend payout ratio is -223.53%.

Insider Transactions at B&G Foods

In related news, Director Stephen Sherrill bought 70,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was bought at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the transaction, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. This represents a 24.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott E. Lerner purchased 7,611 shares of the stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the acquisition, the executive vice president now owns 196,755 shares in the company, valued at $1,292,680.35. This represents a 4.02 % increase in their ownership of the stock. 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. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of B&G Foods by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after buying an additional 5,842 shares in the last quarter. nVerses Capital LLC bought a new stake in B&G Foods in the second quarter worth approximately $33,000. Versor Investments LP increased its stake in shares of B&G Foods by 15.9% during the 2nd quarter. Versor Investments LP now owns 21,438 shares of the company’s stock worth $173,000 after purchasing an additional 2,938 shares during the last quarter. Rhumbline Advisers raised its holdings 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 purchasing an additional 1,625 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of B&G Foods by 155.8% in the 2nd quarter. Victory Capital Management Inc. now owns 61,385 shares of the company’s stock valued at $496,000 after purchasing an additional 37,388 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

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.