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

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned an average rating of “Hold” from the four brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.67.

BGS has been the subject of several research analyst reports. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. Piper Sandler cut their price target on B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Barclays reduced their price target on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday, July 19th. Finally, Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th.

B&G Foods Price Performance

Shares of BGS stock opened at $8.22 on Monday. The business has a fifty day simple moving average of $8.57 and a 200 day simple moving average of $8.96. The company has a market cap of $649.80 million, a P/E ratio of -5.71 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. B&G Foods has a twelve month low of $7.62 and a twelve month high of $11.97.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $444.60 million for the quarter, compared to the consensus estimate of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. On average, sell-side analysts forecast that B&G Foods will post 0.74 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 9.25%. The ex-dividend date is Monday, September 30th. B&G Foods’s payout ratio is presently -52.78%.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the completion of the sale, the executive vice president now directly owns 66,095 shares in the company, valued at approximately $550,571.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

Several institutional investors and hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in B&G Foods during the second quarter worth about $33,000. nVerses Capital LLC purchased a new position in shares of B&G Foods in the 2nd quarter worth approximately $33,000. Versant Capital Management Inc grew its holdings in shares of B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after acquiring an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after acquiring an additional 4,624 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of B&G Foods during the first quarter valued at approximately $60,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

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.