B&G Foods, Inc. (NYSE:BGS) Given Average Rating of "Reduce" by Brokerages

Key Points

• B&G Foods, Inc. has received a consensus rating of "Reduce" from analysts, with one sell and four hold ratings, highlighting concerns about the company's financial performance.
• The company's recent quarterly earnings showed an EPS of $0.04, missing analyst expectations and representing a decline from the previous year.
• B&G Foods has announced a quarterly dividend of $0.19 per share, resulting in a significant annualized yield of 17.2% despite a negative dividend payout ratio.

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has earned an average rating of "Reduce" from the five research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.10.

Several research firms recently weighed in on BGS. Piper Sandler decreased their price objective on B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Royal Bank Of Canada reduced their target price on shares of B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Finally, Barclays reduced their target price on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th.

Institutional Investors Weigh In On B&G Foods

A number of large investors have recently modified their holdings of BGS. JPMorgan Chase & Co. grew its stake in shares of B&G Foods by 66.1% during the fourth quarter. JPMorgan Chase & Co. now owns 296,346 shares of the company's stock worth $2,042,000 after acquiring an additional 117,912 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of B&G Foods by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company's stock worth $12,468,000 after acquiring an additional 5,646 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of B&G Foods by 290.7% during the fourth quarter. Russell Investments Group Ltd. now owns 24,302 shares of the company's stock worth $168,000 after acquiring an additional 18,082 shares during the last quarter. Bank of Montreal Can grew its stake in shares of B&G Foods by 221.9% during the fourth quarter. Bank of Montreal Can now owns 40,411 shares of the company's stock worth $278,000 after acquiring an additional 27,858 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of B&G Foods by 55.7% during the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock worth $7,805,000 after acquiring an additional 405,033 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company's stock.

B&G Foods Stock Up 2.6%

Shares of BGS stock traded up $0.1150 on Wednesday, hitting $4.5850. The stock had a trading volume of 2,497,967 shares, compared to its average volume of 2,545,400. The company has a quick ratio of 0.89, a current ratio of 2.93 and a debt-to-equity ratio of 3.96. The business has a 50 day moving average price of $4.29 and a 200 day moving average price of $5.36. The company has a market cap of $366.80 million, a PE ratio of -1.62 and a beta of 0.48. B&G Foods has a one year low of $3.67 and a one year high of $9.44.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $424.43 million during the quarter, compared to the consensus estimate of $427.80 million. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The business's revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. Research analysts anticipate that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, September 30th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 16.6%. B&G Foods's payout ratio is currently -26.86%.

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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.