Barclays Has Lowered Expectations for B&G Foods (NYSE:BGS) Stock Price

B&G Foods (NYSE:BGS - Free Report) had its price objective cut by Barclays from $8.00 to $7.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

BGS has been the subject of a number of other reports. Evercore ISI cut their price objective on B&G Foods from $10.00 to $9.00 and set an "in-line" rating for the company in a research report on Wednesday. TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a "sell" rating on the stock in a research note on Wednesday. Piper Sandler lowered 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. Finally, StockNews.com raised B&G Foods from a "sell" rating to a "hold" rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.30.

B&G Foods Price Performance

Shares of B&G Foods stock traded down $0.47 on Thursday, reaching $6.60. The company's stock had a trading volume of 4,987,373 shares, compared to its average volume of 1,052,181. The company has a market capitalization of $522.46 million, a P/E ratio of -4.71 and a beta of 0.61. B&G Foods has a 52-week low of $6.56 and a 52-week high of $11.97. The stock has a 50-day moving average price of $8.58 and a 200-day moving average price of $8.82. 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 (NYSE:BGS - Get Free Report) last posted 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 business had revenue of $461.10 million during the quarter, compared to analysts' expectations of $473.82 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 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Analysts expect that B&G Foods will post 0.74 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed 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 11.52%. The ex-dividend date is Tuesday, December 31st. B&G Foods's dividend payout ratio (DPR) is currently -49.35%.

Insiders Place Their Bets

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares of the company's stock, valued at approximately $550,571.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in B&G Foods by 52.4% in the first quarter. Empowered Funds LLC now owns 277,940 shares of the company's stock valued at $3,180,000 after purchasing an additional 95,580 shares during the period. Dana Investment Advisors Inc. raised its position in B&G Foods by 23.5% in the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company's stock valued at $5,739,000 after purchasing an additional 134,937 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in B&G Foods in the second quarter valued at $958,000. SG Americas Securities LLC raised its position in B&G Foods by 36.7% in the first quarter. SG Americas Securities LLC now owns 17,231 shares of the company's stock valued at $197,000 after purchasing an additional 4,623 shares during the period. Finally, ProShare Advisors LLC raised its position in B&G Foods by 16.1% in the first quarter. ProShare Advisors LLC now owns 15,697 shares of the company's stock valued at $180,000 after purchasing an additional 2,180 shares during the period. Institutional investors and hedge funds own 66.15% of the company's stock.

About B&G Foods

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.