Analysts Set B&G Foods, Inc. (NYSE:BGS) PT at $8.10

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

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its stake in B&G Foods by 87.8% in the third quarter. Intech Investment Management LLC now owns 47,056 shares of the company's stock worth $418,000 after purchasing an additional 22,003 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of B&G Foods during the third quarter valued at approximately $1,201,000. Quantbot Technologies LP raised its position in shares of B&G Foods by 140.3% during the 3rd quarter. Quantbot Technologies LP now owns 75,441 shares of the company's stock worth $670,000 after purchasing an additional 44,041 shares during the period. FMR LLC increased its position in B&G Foods by 67.5% in the third quarter. FMR LLC now owns 161,345 shares of the company's stock worth $1,433,000 after buying an additional 65,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of B&G Foods by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,926 shares of the company's stock valued at $1,731,000 after acquiring an additional 3,879 shares during the period. 66.15% of the stock is owned by institutional investors and hedge funds.

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B&G Foods Trading Down 0.0 %

NYSE:BGS traded down $0.00 during trading hours on Friday, reaching $6.60. 2,487,584 shares of the company were exchanged, compared to its average volume of 1,282,860. B&G Foods has a 52-week low of $5.45 and a 52-week high of $11.79. The firm has a market cap of $522.23 million, a price-to-earnings ratio of -19.41 and a beta of 0.47. 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 stock has a 50 day simple moving average of $6.64 and a 200 day simple moving average of $7.32.

B&G Foods (NYSE:BGS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $547.95 million. As a group, 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 11.52%. The ex-dividend date is Monday, March 31st. B&G Foods's dividend payout ratio (DPR) is currently -23.90%.

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.