B&G Foods, Inc. (NYSE:BGS) Receives Average Rating of "Reduce" from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have been given an average rating of "Reduce" by the five research firms that are covering the company, 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 brokerages that have updated their coverage on the stock in the last year is $7.30.

BGS has been the subject of several research analyst reports. Barclays cut their price objective on B&G Foods from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Piper Sandler lowered their target price on B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th.

Hedge Funds Weigh In On B&G Foods

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of B&G Foods by 4,994.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,264,936 shares of the company's stock valued at $15,560,000 after acquiring an additional 2,220,473 shares in the last quarter. Millennium Management LLC lifted its position in shares of B&G Foods by 15,131.8% in the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company's stock valued at $12,970,000 after acquiring an additional 1,875,589 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of B&G Foods by 28.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock valued at $23,106,000 after acquiring an additional 744,898 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of B&G Foods by 1,574.4% in the first quarter. Cubist Systematic Strategies LLC now owns 685,118 shares of the company's stock valued at $4,707,000 after acquiring an additional 644,200 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of B&G Foods in the first quarter valued at about $3,488,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Performance

Shares of BGS opened at $4.20 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods has a one year low of $3.97 and a one year high of $9.68. The firm has a market capitalization of $334.75 million, a P/E ratio of -12.34 and a beta of 0.53. The business has a fifty day moving average of $5.53 and a 200 day moving average of $6.35.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.12). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm had revenue of $425.40 million during the quarter, compared to the consensus estimate of $459.40 million. During the same period in the previous year, the firm earned $0.18 EPS. The business's revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Monday, June 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.76 annualized dividend and a yield of 18.12%. B&G Foods's dividend payout ratio (DPR) is presently -28.57%.

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

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