B&G Foods, Inc. (NYSE:BGS) Receives $8.10 Consensus PT from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have been given an average rating of "Reduce" by the five analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.10.

Separately, Piper Sandler dropped their price objective on B&G Foods from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th.

B&G Foods Stock Up 4.2 %

Shares of NYSE BGS traded up $0.29 during trading hours on Thursday, hitting $7.10. The company had a trading volume of 1,620,110 shares, compared to its average volume of 1,441,691. The stock has a market capitalization of $561.56 million, a P/E ratio of -20.87 and a beta of 0.74. B&G Foods has a 1-year low of $5.45 and a 1-year high of $11.72. The firm's 50 day moving average is $6.68 and its 200-day moving average is $6.97. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $551.57 million during the quarter, compared to the consensus estimate of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. On average, analysts expect that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.19 per share. The ex-dividend date is Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 10.71%. B&G Foods's dividend payout ratio (DPR) is presently -23.90%.

Hedge Funds Weigh In On B&G Foods

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in B&G Foods by 28.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock valued at $23,106,000 after purchasing an additional 744,898 shares during the period. Two Sigma Investments LP boosted its position in shares of B&G Foods by 113.2% in the fourth quarter. Two Sigma Investments LP now owns 830,817 shares of the company's stock valued at $5,724,000 after acquiring an additional 441,117 shares during the period. Invesco Ltd. boosted its position in shares of B&G Foods by 55.7% in the fourth quarter. Invesco Ltd. now owns 1,132,834 shares of the company's stock valued at $7,805,000 after acquiring an additional 405,033 shares during the period. Barclays PLC grew its stake in shares of B&G Foods by 267.5% in the fourth quarter. Barclays PLC now owns 480,312 shares of the company's stock valued at $3,308,000 after acquiring an additional 349,619 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in B&G Foods by 279.0% during the fourth quarter. Two Sigma Advisers LP now owns 458,200 shares of the company's stock worth $3,157,000 after acquiring an additional 337,300 shares during the period. Institutional investors and hedge funds own 66.15% of the company's stock.

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.