B&G Foods (NYSE:BGS) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of B&G Foods (NYSE:BGS) from a sell rating to a hold rating in a research report report published on Saturday morning.

Other research analysts have also issued research reports about the company. Barclays lowered their price target on B&G Foods from $10.00 to $8.00 and set an equal weight rating on the stock in a research report on Friday, July 19th. Royal Bank of Canada restated a sector perform rating and set a $10.00 target price on shares of B&G Foods in a report on Wednesday, August 7th. Evercore ISI raised shares of B&G Foods to a hold rating in a research report on Wednesday, August 7th. Finally, Piper Sandler cut their price objective on 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. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $8.88.

B&G Foods Price Performance

Shares of NYSE BGS opened at $8.23 on Friday. The company has a fifty day moving average price of $8.27 and a 200 day moving average price of $9.63. The firm has a market cap of $650.19 million, a PE ratio of -5.71 and a beta of 0.61. The company has a current ratio of 3.22, a quick ratio of 0.92 and a debt-to-equity ratio of 2.58. B&G Foods has a 1-year low of $7.20 and a 1-year high of $13.15.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $435.83 million. B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. B&G Foods’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. Research analysts predict that B&G Foods will post 0.77 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date of this dividend is Monday, September 30th. B&G Foods’s dividend payout ratio is currently -52.78%.

Institutional Trading of B&G Foods

Large investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC increased its holdings in B&G Foods by 8.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 13,761 shares of the company’s stock valued at $144,000 after buying an additional 1,090 shares during the period. Louisiana State Employees Retirement System bought a new position in B&G Foods in the fourth quarter valued at approximately $413,000. Signaturefd LLC raised its position in B&G Foods by 58.2% during the fourth quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock valued at $64,000 after purchasing an additional 2,254 shares in the last quarter. CWM LLC lifted its stake in B&G Foods by 57.6% during the fourth quarter. CWM LLC now owns 6,257 shares of the company’s stock worth $66,000 after purchasing an additional 2,287 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of B&G Foods during the 4th quarter worth $76,000. 66.15% of the stock is owned by institutional investors and hedge funds.

About B&G Foods

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.