Brokerages Set B&G Foods, Inc. (NYSE:BGS) PT at $8.30

B&G Foods, Inc. (NYSE:BGS) has earned an average rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $8.30.

BGS has been the topic of a number of research reports. TD Cowen cut 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. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Evercore ISI decreased 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, Barclays cut their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th.

Insider Transactions at B&G Foods

In other B&G Foods news, Director Stephen Sherrill acquired 70,000 shares of the stock in a transaction on Friday, November 8th. The stock was purchased at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the purchase, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. This trade represents a 24.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric H. Hart bought 5,000 shares of B&G Foods stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $6.25 per share, with a total value of $31,250.00. Following the completion of the purchase, the executive vice president now owns 88,899 shares in the company, valued at approximately $555,618.75. The trade was a 5.96 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 90,111 shares of company stock valued at $593,054. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of B&G Foods by 346.0% during the fourth 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 last quarter. JPMorgan Chase & Co. raised its stake in B&G Foods by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 178,434 shares of the company’s stock valued at $1,584,000 after buying an additional 11,901 shares in the last quarter. Barclays PLC lifted its holdings in 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 buying an additional 98,824 shares during the last quarter. Geode Capital Management LLC grew its position in shares of B&G Foods by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock worth $16,018,000 after acquiring an additional 24,995 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of B&G Foods by 1.9% in the 3rd quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock valued at $1,612,000 after acquiring an additional 3,359 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Price Performance

B&G Foods stock opened at $7.03 on Friday. B&G Foods has a 1 year low of $6.12 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. The firm has a 50 day moving average price of $7.13 and a 200 day moving average price of $7.96. The company has a market cap of $556.52 million, a price-to-earnings ratio of -20.68 and a beta of 0.51.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). The company had revenue of $461.10 million for the quarter, compared to analysts’ expectations of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. Sell-side analysts predict that B&G Foods will post 0.73 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.81%. B&G Foods’s dividend payout ratio is currently -223.53%.

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.