B&G Foods, Inc. (NYSE:BGS) Receives Average Recommendation of "Reduce" from Analysts

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has been given an average recommendation of "Reduce" by the five research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $8.10.

BGS has been the subject of a number of analyst reports. Piper Sandler lowered their target price on B&G Foods from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday. Evercore ISI decreased 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 note on Wednesday, November 6th. Barclays dropped their price objective on B&G Foods from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. Finally, TD Cowen reduced their target price on shares of B&G Foods from $8.00 to $7.50 and set a "sell" rating for the company in a report on Wednesday, November 6th.

B&G Foods Price Performance

Shares of B&G Foods stock traded down $0.25 during trading hours on Wednesday, reaching $6.70. The company's stock had a trading volume of 3,792,346 shares, compared to its average volume of 1,714,688. The stock has a market cap of $530.00 million, a P/E ratio of -19.69 and a beta of 0.50. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a 50 day moving average price of $6.57 and a 200-day moving average price of $7.49. B&G Foods has a one year low of $5.45 and a one year high of $11.97.

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B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $551.57 million during the quarter, compared to analysts' expectations of $547.95 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. On average, analysts predict that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 11.35%. The ex-dividend date of this dividend is Monday, March 31st. B&G Foods's dividend payout ratio is currently -23.90%.

Institutional Investors Weigh In On B&G Foods

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after purchasing an additional 2,658 shares in the last quarter. Independent Wealth Network Inc. purchased a new position in shares of B&G Foods in the fourth quarter worth $77,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of B&G Foods during the third quarter worth $102,000. SBI Securities Co. Ltd. purchased a new stake in shares of B&G Foods during the fourth quarter valued at $79,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in shares of B&G Foods in the 4th quarter valued at $81,000. Institutional investors and hedge funds own 66.15% of the company's stock.

About B&G Foods

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.