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

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has received an average recommendation of "Hold" from the four research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating. The average twelve-month target price among brokers that have covered the stock in the last year is $8.67.

A number of brokerages recently commented on BGS. Barclays decreased their price objective on B&G Foods from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Friday, July 19th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $10.00 price target on shares of B&G Foods in a research report on Wednesday, August 7th. Evercore ISI upgraded shares of B&G Foods to a "hold" rating in a report on Wednesday, August 7th. StockNews.com raised shares of B&G Foods from a "sell" rating to a "hold" rating in a research report on Thursday, September 26th. Finally, Piper Sandler lowered their price objective on shares of B&G Foods from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, July 11th.

B&G Foods Trading Down 3.9 %

B&G Foods stock traded down $0.34 during mid-day trading on Monday, hitting $8.34. The stock had a trading volume of 639,148 shares, compared to its average volume of 1,015,732. The stock has a market capitalization of $659.29 million, a PE ratio of -5.79 and a beta of 0.60. B&G Foods has a 12 month low of $7.62 and a 12 month high of $11.97. The company has a current ratio of 1.63, a quick ratio of 0.48 and a debt-to-equity ratio of 2.33. The stock has a 50-day simple moving average of $8.59 and a two-hundred day simple moving average of $9.01.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The business had revenue of $444.60 million during the quarter, compared to the consensus estimate of $435.83 million. During the same period in the previous year, the firm posted $0.15 earnings per share. B&G Foods's revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast 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 Wednesday, October 30th. Investors of record on Monday, September 30th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.11%. B&G Foods's payout ratio is -52.78%.

Insider Buying and Selling

In related news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction that occurred 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 approximately $550,571.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On B&G Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Everence Capital Management Inc. grew its holdings in shares of B&G Foods by 126.5% in the 3rd quarter. Everence Capital Management Inc. now owns 27,450 shares of the company's stock valued at $244,000 after acquiring an additional 15,330 shares in the last quarter. nVerses Capital LLC grew its stake in B&G Foods by 34.1% in the third quarter. nVerses Capital LLC now owns 5,500 shares of the company's stock valued at $49,000 after purchasing an additional 1,400 shares in the last quarter. Creative Planning increased its position in shares of B&G Foods by 94.5% during the 3rd quarter. Creative Planning now owns 37,744 shares of the company's stock worth $335,000 after purchasing an additional 18,340 shares during the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of B&G Foods by 5.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company's stock worth $5,652,000 after purchasing an additional 34,768 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of B&G Foods by 56.0% in the 3rd quarter. SG Americas Securities LLC now owns 39,718 shares of the company's stock valued at $353,000 after buying an additional 14,256 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.