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

Key Points

• Analysts have an average rating of "Reduce" on B&G Foods (2 sell, 4 hold) with a mean 12-month price target of $4.90.
• Insiders have been net sellers, disposing of 50,821 shares in the last 90 days — including EVP Andrew D. Vogel (20,000 shares) and EVP Martin C. Schoch (11,321 shares) — trimming their positions materially.
• B&G declared a $0.19 quarterly dividend (annualized $0.76) equating to a 14.2% yield

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have received an average rating of "Reduce" from the six analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.90.

Several research firms recently commented on BGS. Evercore set a $5.00 price target on shares of B&G Foods in a research note on Wednesday, March 4th. Barclays raised their price target on shares of B&G Foods from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of B&G Foods in a research note on Monday, December 29th. Finally, TD Cowen reaffirmed a "sell" rating on shares of B&G Foods in a research note on Wednesday, March 4th.

Insider Buying and Selling

In related news, EVP Andrew D. Vogel sold 20,000 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total value of $103,800.00. Following the transaction, the executive vice president owned 50,679 shares of the company's stock, valued at $263,024.01. This trade represents a 28.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Martin C. Schoch sold 11,321 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $5.40, for a total transaction of $61,133.40. Following the transaction, the executive vice president owned 34,347 shares in the company, valued at approximately $185,473.80. The trade was a 24.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,821 shares of company stock valued at $266,138 in the last 90 days. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comprehensive Money Management Services LLC bought a new position in B&G Foods during the 1st quarter worth about $50,000. Sterling Capital Management LLC grew its holdings in B&G Foods by 1,016.6% during the 1st quarter. Sterling Capital Management LLC now owns 50,215 shares of the company's stock worth $242,000 after acquiring an additional 45,718 shares in the last quarter. Independent Wealth Network Inc. grew its holdings in B&G Foods by 35.4% during the 1st quarter. Independent Wealth Network Inc. now owns 48,059 shares of the company's stock worth $231,000 after acquiring an additional 12,567 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in B&G Foods by 91.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 10,612 shares of the company's stock worth $46,000 after acquiring an additional 5,055 shares in the last quarter. Finally, World Investment Advisors bought a new position in B&G Foods during the 4th quarter worth about $146,000. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Trading Up 1.7%

Shares of BGS opened at $5.36 on Friday. B&G Foods has a twelve month low of $3.67 and a twelve month high of $7.05. The company has a market cap of $430.76 million, a P/E ratio of -9.92 and a beta of 0.46. The company has a current ratio of 3.32, a quick ratio of 1.43 and a debt-to-equity ratio of 4.30. The company's fifty day simple moving average is $5.22 and its 200-day simple moving average is $4.74.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $539.56 million for the quarter, compared to the consensus estimate of $537.50 million. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. As a group, analysts expect that B&G Foods will post 0.54 EPS for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 14.2%. The ex-dividend date of this dividend is Tuesday, March 31st. B&G Foods's dividend payout ratio (DPR) is currently -140.74%.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.

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