B&G Foods, Inc. (NYSE:BGS) Receives $8.67 Consensus Target Price from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average rating of “Hold” from the four ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating. The average 12 month price target among brokers that have covered the stock in the last year is $8.67.

BGS has been the subject of several analyst reports. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Barclays decreased their price objective on shares of 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. Evercore ISI upgraded B&G Foods to a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price target on shares of B&G Foods 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 on the stock in a research report on Thursday, July 11th.

Insider Buying and Selling at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares of the company’s stock, valued at $550,571.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On B&G Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGS. Innealta Capital LLC purchased a new position in shares of B&G Foods in the second quarter worth about $33,000. nVerses Capital LLC bought a new stake in B&G Foods during the 2nd quarter valued at $33,000. Versant Capital Management Inc lifted its position in shares of B&G Foods by 36.9% during the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock worth $47,000 after acquiring an additional 1,555 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after acquiring an additional 4,624 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of B&G Foods in the first quarter valued at $60,000. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Price Performance

BGS stock opened at $8.21 on Monday. The company has a market capitalization of $649.01 million, a P/E ratio of -5.70 and a beta of 0.60. B&G Foods has a 52-week low of $7.62 and a 52-week high of $11.97. The business has a 50-day simple moving average of $8.57 and a two-hundred day simple moving average of $8.93. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.48 and a current ratio of 1.63.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $444.60 million for the quarter, compared to analysts’ expectations of $435.83 million. B&G Foods had a positive return on equity of 8.07% and a negative net margin of 5.82%. B&G Foods’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Research analysts expect that B&G Foods will post 0.74 EPS 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 issued a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.26%. B&G Foods’s dividend payout ratio (DPR) is presently -52.78%.

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.