B&G Foods, Inc. (NYSE:BGS) Given Average Recommendation of "Reduce" by Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have been given a consensus recommendation of "Reduce" by the five analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.30.

Several research firms recently commented on BGS. Barclays dropped their price target on B&G Foods from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. StockNews.com upgraded B&G Foods from a "sell" rating to a "hold" rating in a report on Thursday, September 26th. Evercore ISI dropped their price objective on shares of 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $10.00 target price on shares of B&G Foods in a research note on Wednesday, August 7th. Finally, TD Cowen lowered 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

NYSE:BGS traded down $0.08 during mid-day trading on Friday, reaching $6.21. The company's stock had a trading volume of 1,749,894 shares, compared to its average volume of 1,085,615. The firm's fifty day moving average price is $8.40 and its two-hundred day moving average price is $8.66. B&G Foods has a 12-month low of $6.20 and a 12-month high of $11.97. 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 (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 the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $461.10 million during the quarter, compared to analysts' expectations of $473.82 million. During the same quarter last year, the company earned $0.27 earnings per share. The company's revenue for the quarter was down 8.3% on a year-over-year basis. As a group, research analysts expect that B&G Foods will post 0.73 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 12.24%. B&G Foods's payout ratio is -223.52%.

Insiders Place Their Bets

In related news, EVP Andrew D. Vogel purchased 7,500 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $6.36 per share, for a total transaction of $47,700.00. Following the acquisition, the executive vice president now owns 37,064 shares of the company's stock, valued at $235,727.04. The trade was a 25.37 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jordan E. Greenberg sold 8,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the sale, the executive vice president now owns 66,095 shares of the company's stock, valued at $550,571.35. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 85,111 shares of company stock worth $561,804. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On B&G Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in shares of B&G Foods in the 2nd quarter valued at about $33,000. nVerses Capital LLC purchased a new position in B&G Foods in the second quarter worth $33,000. Versant Capital Management Inc increased its position in shares of B&G Foods by 36.9% during the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company's stock worth $47,000 after purchasing an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of B&G Foods by 1,556.9% during the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company's stock worth $56,000 after purchasing 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 1st quarter valued at $60,000. Hedge funds and other institutional investors own 66.15% of the company's stock.

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.