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

B&G Foods, Inc. (NYSE:BGS) has earned a consensus recommendation of “Hold” from the four research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.67.

BGS has been the topic of several recent analyst reports. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Piper Sandler lowered their target price on B&G Foods from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. StockNews.com raised B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th. Finally, Barclays dropped their price target on shares of 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.

B&G Foods Stock Performance

BGS stock opened at $9.34 on Thursday. B&G Foods has a twelve month low of $7.20 and a twelve month high of $11.97. The firm has a market cap of $738.34 million, a price-to-earnings ratio of -6.49 and a beta of 0.60. The business’s fifty day simple moving average is $8.59 and its two-hundred day simple moving average is $9.34. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $444.60 million for the quarter, compared to the consensus estimate of $435.83 million. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Analysts predict that B&G Foods will post 0.74 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 8.14%. The ex-dividend date is Monday, September 30th. B&G Foods’s payout ratio is -52.78%.

Insider Activity

In related news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the sale, the executive vice president now directly owns 66,095 shares in the company, valued at approximately $550,571.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On B&G Foods

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in B&G Foods by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock valued at $105,453,000 after acquiring an additional 1,190,116 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of B&G Foods by 71.3% during the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after purchasing an additional 682,688 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of B&G Foods by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after purchasing an additional 485,714 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of B&G Foods by 154.0% in the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock valued at $5,065,000 after purchasing an additional 380,054 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in B&G Foods during the first quarter worth approximately $2,835,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

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.