Brokerages Set B&G Foods, Inc. (NYSE:BGS) Price Target at $8.30

B&G Foods, Inc. (NYSE:BGS) has been given a consensus rating of “Reduce” by the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.30.

A number of equities analysts recently weighed in on the stock. 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 report on Wednesday, November 6th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. TD Cowen cut their price target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. Finally, Barclays lowered their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th.

B&G Foods Stock Down 1.0 %

Shares of NYSE:BGS opened at $7.03 on Friday. B&G Foods has a 1-year low of $6.12 and a 1-year high of $11.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The stock has a market cap of $556.52 million, a P/E ratio of -20.68 and a beta of 0.51. The firm has a fifty day moving average price of $7.13 and a 200 day moving average price of $7.96.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). The business 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%. B&G Foods’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS. Sell-side analysts predict that B&G Foods will post 0.73 EPS for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 10.81%. B&G Foods’s payout ratio is currently -223.53%.

Insider Activity

In other B&G Foods news, EVP Scott E. Lerner purchased 7,611 shares of the stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the transaction, the executive vice president now directly owns 196,755 shares of the company’s stock, valued at $1,292,680.35. This trade represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $6.63 per share, with a total value of $464,100.00. Following the completion of the transaction, the director now directly owns 353,084 shares in the company, valued at approximately $2,340,946.92. The trade was a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 90,111 shares of company stock worth $593,054. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On B&G Foods

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC boosted its stake in shares of B&G Foods by 34.1% during the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $49,000 after purchasing an additional 1,400 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of B&G Foods by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 248,716 shares of the company’s stock worth $2,010,000 after purchasing an additional 1,625 shares during the period. PFG Investments LLC boosted its holdings in shares of B&G Foods by 12.5% during the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after purchasing an additional 2,008 shares during the last quarter. Versor Investments LP grew its position in shares of B&G Foods by 13.4% in the third quarter. Versor Investments LP now owns 24,300 shares of the company’s stock valued at $216,000 after purchasing an additional 2,862 shares during the period. Finally, Foundry Partners LLC increased its stake in B&G Foods by 1.3% in the third quarter. Foundry Partners LLC now owns 245,235 shares of the company’s stock valued at $2,178,000 after purchasing an additional 3,235 shares during the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

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.