Brokerages Set B&G Foods, Inc. (NYSE:BGS) Price Target at $8.10

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average rating of “Reduce” from the five brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.10.

Separately, Piper Sandler dropped their target price on B&G Foods from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after acquiring an additional 2,658 shares during the last quarter. Independent Wealth Network Inc. purchased a new position in shares of B&G Foods during the fourth quarter worth $77,000. SBI Securities Co. Ltd. acquired a new stake in shares of B&G Foods in the fourth quarter valued at $79,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of B&G Foods in the 4th quarter valued at $81,000. Finally, Prism Advisors Inc. acquired a new position in B&G Foods during the 4th quarter worth about $82,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of BGS opened at $6.62 on Friday. The company has a market capitalization of $523.50 million, a P/E ratio of -19.46 and a beta of 0.47. B&G Foods has a fifty-two week low of $5.45 and a fifty-two week high of $11.72. The business’s 50-day moving average is $6.65 and its two-hundred day moving average is $7.29. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. Research analysts predict 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 Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 11.49%. The ex-dividend date is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is presently -23.90%.

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. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.