Brokerages Set B&G Foods, Inc. (NYSE:BGS) Target Price at $8.10

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average recommendation of “Reduce” from the five brokerages that are currently covering the firm, 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 target among brokerages that have updated their coverage on the stock in the last year is $8.10.

Separately, Piper Sandler dropped their target price on B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BGS. Dana Investment Advisors Inc. boosted its holdings in shares of B&G Foods by 20.3% during the 4th quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company’s stock worth $5,269,000 after purchasing an additional 129,202 shares during the last quarter. Barclays PLC boosted its stake in B&G Foods by 310.1% during the third 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. Verition Fund Management LLC grew its holdings in B&G Foods by 3,480.9% in the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after buying an additional 368,799 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of B&G Foods in the 4th quarter worth $857,000. Finally, Principal Financial Group Inc. increased its stake in shares of B&G Foods by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock worth $2,644,000 after acquiring an additional 10,742 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Trading Down 0.1 %

B&G Foods stock opened at $6.60 on Friday. 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 firm has a market cap of $521.99 million, a PE ratio of -19.40 and a beta of 0.47. The stock’s 50 day simple moving average is $6.65 and its two-hundred day simple moving average is $7.31. B&G Foods has a 12 month low of $5.45 and a 12 month high of $11.79.

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

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 11.52%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods’s dividend payout ratio is presently -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.