B&G Foods, Inc. (NYSE:BGS) Given Average Recommendation of “Reduce” by Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned a consensus recommendation of “Reduce” from the five brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.30.

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

B&G Foods Trading Up 1.8 %

B&G Foods stock opened at $6.39 on Friday. 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 has a 1 year low of $6.12 and a 1 year high of $11.97. The firm’s 50-day moving average is $8.17 and its 200-day moving average is $8.49. The company has a market cap of $505.44 million, a P/E ratio of -18.78 and a beta of 0.61.

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

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 11.90%. B&G Foods’s dividend payout ratio is -223.52%.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s 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 transaction, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at $550,571.35. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen Sherrill acquired 70,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the acquisition, the director now directly owns 353,084 shares of the company’s stock, valued at $2,340,946.92. The trade was a 24.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 90,111 shares of company stock valued at $593,054 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after acquiring an additional 682,688 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of B&G Foods by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after purchasing an additional 485,714 shares during the period. AQR Capital Management LLC raised its position in shares of B&G Foods by 154.0% during the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock valued at $5,065,000 after buying an additional 380,054 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after buying an additional 368,799 shares during the period. Finally, Savoir Faire Capital Management L.P. lifted its position in shares of B&G Foods by 37.5% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock worth $4,268,000 after acquiring an additional 144,146 shares during the period. Institutional investors own 66.15% of the company’s stock.

B&G Foods Company Profile

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.