B&G Foods, Inc. (NYSE:BGS) Receives $4.70 Average Target Price from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $4.70.

A number of analysts recently issued reports on the stock. TD Cowen reissued a “sell” rating on shares of B&G Foods in a report on Wednesday, March 4th. Barclays lifted their price objective on shares of B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th. Finally, Evercore set a $5.00 target price on shares of B&G Foods in a research note on Wednesday, March 4th.

Insider Buying and Selling

In other B&G Foods news, EVP Martin C. Schoch sold 11,321 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $5.40, for a total value of $61,133.40. Following the sale, the executive vice president directly owned 34,347 shares of the company’s stock, valued at approximately $185,473.80. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew D. Vogel sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $5.19, for a total value of $103,800.00. Following the transaction, the executive vice president directly owned 50,679 shares of the company’s stock, valued at approximately $263,024.01. The trade was a 28.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On B&G Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of B&G Foods by 502.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock worth $31,000 after purchasing an additional 6,207 shares during the last quarter. Triumph Capital Management purchased a new position in B&G Foods in the 3rd quarter valued at about $34,000. Allworth Financial LP boosted its holdings in B&G Foods by 49.5% in the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock worth $35,000 after buying an additional 2,612 shares during the last quarter. Federated Hermes Inc. acquired a new stake in B&G Foods in the 2nd quarter worth about $35,000. Finally, Capstone Financial Advisors Inc. purchased a new stake in B&G Foods during the 2nd quarter worth approximately $42,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Stock Down 0.8%

B&G Foods stock opened at $5.22 on Friday. The business’s 50-day moving average price is $4.82 and its 200 day moving average price is $4.60. The company has a quick ratio of 1.43, a current ratio of 3.32 and a debt-to-equity ratio of 4.30. The firm has a market cap of $417.44 million, a price-to-earnings ratio of -9.67 and a beta of 0.46. B&G Foods has a 52 week low of $3.67 and a 52 week high of $7.49.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $539.56 million for the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, sell-side analysts anticipate that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 14.6%. B&G Foods’s dividend payout ratio is currently -140.74%.

B&G Foods Company Profile

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.