B&G Foods, Inc. (NYSE:BGS) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned a consensus rating of “Reduce” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.30.

A number of brokerages have weighed in on BGS. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. TD Cowen reduced their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research note on Wednesday, November 6th. Barclays dropped their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Evercore ISI reduced their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th.

Insider Buying and Selling

In other news, EVP Eric H. Hart purchased 5,000 shares of B&G Foods stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the transaction, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. The trade was a 5.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen Sherrill bought 70,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now owns 353,084 shares of the company’s stock, valued at $2,340,946.92. This trade represents a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 90,111 shares of company stock valued at $593,054 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On B&G Foods

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of B&G Foods by 7.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,862 shares of the company’s stock valued at $628,000 after acquiring an additional 3,979 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of B&G Foods by 3.2% in the 1st quarter. California State Teachers Retirement System now owns 78,527 shares of the company’s stock valued at $898,000 after acquiring an additional 2,466 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of B&G Foods in the first quarter worth $202,000. CWM LLC lifted its position in B&G Foods by 99.9% during the 2nd quarter. CWM LLC now owns 14,469 shares of the company’s stock worth $117,000 after acquiring an additional 7,231 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of B&G Foods by 47.8% during the 2nd quarter. SG Americas Securities LLC now owns 25,462 shares of the company’s stock worth $206,000 after purchasing an additional 8,231 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of BGS stock opened at $7.55 on Tuesday. The firm has a fifty day simple moving average of $7.56 and a 200-day simple moving average of $8.22. The company has a market capitalization of $597.66 million, a PE ratio of -22.21 and a beta of 0.54. B&G Foods has a twelve month low of $6.12 and a twelve month 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.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities research analysts anticipate that B&G Foods will post 0.71 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s payout ratio is -223.52%.

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.