B&G Foods, Inc. (NYSE:BGS) Given Consensus Rating of “Reduce” by Analysts

B&G Foods, Inc. (NYSE:BGS) has received a consensus recommendation of “Reduce” from the five analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $8.10.

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

B&G Foods Trading Down 0.1 %

BGS stock opened at $6.60 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods has a 1-year low of $5.45 and a 1-year high of $11.79. The business has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $7.31. The company has a market capitalization of $521.99 million, a price-to-earnings ratio of -19.40 and a beta of 0.47.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share 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 during the quarter, compared to analyst estimates of $547.95 million. Research analysts anticipate that B&G Foods will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 11.52%. The ex-dividend date is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is currently -23.90%.

Institutional Investors Weigh In On B&G Foods

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in B&G Foods by 28.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company’s stock valued at $23,106,000 after purchasing an additional 744,898 shares during the last quarter. American Century Companies Inc. increased its stake in shares of B&G Foods by 13.7% in the fourth quarter. American Century Companies Inc. now owns 2,226,706 shares of the company’s stock worth $15,342,000 after acquiring an additional 267,455 shares during the period. Geode Capital Management LLC raised its holdings in shares of B&G Foods by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company’s stock worth $12,468,000 after purchasing an additional 5,646 shares during the last quarter. Invesco Ltd. lifted its position in B&G Foods by 55.7% during the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company’s stock valued at $7,805,000 after purchasing an additional 405,033 shares during the period. Finally, Northern Trust Corp boosted its holdings in B&G Foods by 10.0% in the fourth quarter. Northern Trust Corp now owns 872,186 shares of the company’s stock valued at $6,009,000 after purchasing an additional 79,226 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

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.