B&G Foods (NYSE:BGS) Releases Earnings Results, Beats Estimates By $0.04 EPS

B&G Foods (NYSE:BGS) announced its earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04, FiscalAI reports. B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%.The firm had revenue of $439.30 million for the quarter, compared to the consensus estimate of $435.47 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. B&G Foods updated its FY 2025 guidance to 0.500-0.580 EPS.

B&G Foods Price Performance

Shares of B&G Foods stock traded up $0.98 during trading on Thursday, hitting $4.96. The stock had a trading volume of 7,289,969 shares, compared to its average volume of 2,499,653. The firm has a market cap of $396.42 million, a price-to-earnings ratio of -1.75 and a beta of 0.43. B&G Foods has a 12 month low of $3.67 and a 12 month high of $8.10. The business’s 50-day moving average is $4.42 and its 200 day moving average is $4.55. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders of record on Wednesday, December 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.76 annualized dividend and a dividend yield of 15.3%. B&G Foods’s dividend payout ratio is presently -26.86%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its stake in B&G Foods by 15,131.8% in the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after acquiring an additional 1,875,589 shares during the last quarter. Bank of America Corp DE increased its stake in B&G Foods by 142.7% in the second quarter. Bank of America Corp DE now owns 1,193,473 shares of the company’s stock valued at $5,048,000 after acquiring an additional 701,660 shares during the last quarter. Marshall Wace LLP increased its stake in B&G Foods by 566.8% in the second quarter. Marshall Wace LLP now owns 700,640 shares of the company’s stock valued at $2,964,000 after acquiring an additional 595,571 shares during the last quarter. Raymond James Financial Inc. increased its stake in B&G Foods by 120.1% in the second quarter. Raymond James Financial Inc. now owns 763,425 shares of the company’s stock valued at $3,229,000 after acquiring an additional 416,510 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in B&G Foods by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company’s stock valued at $4,851,000 after acquiring an additional 155,503 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays cut their target price on B&G Foods from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Zacks Research upgraded B&G Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of B&G Foods in a research note on Tuesday, October 14th. Finally, Royal Bank Of Canada dropped their price objective on B&G Foods from $6.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $4.67.

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.