B&G Foods, Inc. (NYSE:BGS) Given Consensus Rating of “Reduce” by Brokerages

B&G Foods, Inc. (NYSE:BGS) has been given an average rating of “Reduce” by the five research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.30.

Several equities research analysts have recently issued reports on the company. TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Evercore ISI cut their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. Finally, Barclays lowered their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th.

Insiders Place Their Bets

In other B&G Foods news, EVP Andrew D. Vogel purchased 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $6.36 per share, with a total value of $47,700.00. Following the completion of the transaction, the executive vice president now directly owns 37,064 shares of the company’s stock, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric H. Hart acquired 5,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at approximately $555,618.75. This represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 90,111 shares of company stock worth $593,054. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On B&G Foods

Hedge funds have recently modified their holdings of the stock. Regent Peak Wealth Advisors LLC acquired a new stake in shares of B&G Foods during the 4th quarter worth about $81,000. GAMMA Investing LLC raised its stake in shares of B&G Foods by 346.0% in the fourth quarter. GAMMA Investing LLC now owns 25,179 shares of the company’s stock valued at $173,000 after acquiring an additional 19,534 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of B&G Foods by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 178,434 shares of the company’s stock worth $1,584,000 after acquiring an additional 11,901 shares in the last quarter. Barclays PLC grew its position in B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after acquiring an additional 98,824 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in B&G Foods by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after purchasing an additional 24,995 shares in the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Stock Down 1.2 %

Shares of B&G Foods stock opened at $6.78 on Friday. B&G Foods has a 12-month low of $6.12 and a 12-month high of $11.97. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The stock has a 50 day moving average price of $7.09 and a two-hundred day moving average price of $7.95. The stock has a market capitalization of $536.73 million, a P/E ratio of -19.94 and a beta of 0.51.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. Equities analysts expect that B&G Foods will post 0.73 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 11.21%. B&G Foods’s dividend payout ratio (DPR) is -223.53%.

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.