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.

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have been assigned an average recommendation of "Reduce" from the five brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $6.10.

A number of research analysts have commented on the company. Royal Bank Of Canada decreased their price target on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. Barclays decreased their price target on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Finally, Piper Sandler decreased their price target on B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th.

B&G Foods Trading Up 2.6%

BGS traded up $0.1150 during trading hours on Wednesday, reaching $4.5850. The company's stock had a trading volume of 2,497,967 shares, compared to its average volume of 2,495,638. B&G Foods has a fifty-two week low of $3.67 and a fifty-two week high of $9.44. The stock has a market cap of $366.80 million, a PE ratio of -1.62 and a beta of 0.48. The business's 50-day moving average is $4.29 and its 200-day moving average is $5.37. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89.

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

B&G Foods Dividend Announcement

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

Hedge Funds Weigh In On B&G Foods

Several large investors have recently bought and sold shares of BGS. Dimensional Fund Advisors LP grew its holdings in shares of B&G Foods by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock worth $23,106,000 after purchasing an additional 744,898 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of B&G Foods by 5.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,384,298 shares of the company's stock worth $10,086,000 after purchasing an additional 119,362 shares during the last quarter. Millennium Management LLC grew its holdings in shares of B&G Foods by 15,131.8% during the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company's stock worth $12,970,000 after purchasing an additional 1,875,589 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 5,646 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of B&G Foods by 31.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,340,836 shares of the company's stock worth $9,211,000 after purchasing an additional 321,414 shares during the last quarter. Hedge funds and other institutional investors own 66.15% of the company's stock.

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.