B&G Foods, Inc. (NYSE:BGS) Receives $7.30 Average PT from Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have received an average rating of "Reduce" from the five analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $7.30.

Several research firms recently commented on BGS. Piper Sandler cut their price target on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Barclays decreased their price target on shares of B&G Foods from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th.

B&G Foods Trading Up 6.1%

Shares of B&G Foods stock traded up $0.27 during mid-day trading on Friday, hitting $4.62. 4,140,866 shares of the stock were exchanged, compared to its average volume of 1,701,706. The stock has a market capitalization of $368.27 million, a price-to-earnings ratio of -13.57 and a beta of 0.53. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods has a twelve month low of $3.97 and a twelve month high of $9.68. The company has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $6.34.

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

B&G Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be issued a $0.19 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a yield of 16.47%. B&G Foods's dividend payout ratio is currently -28.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its position in B&G Foods by 3,217.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company's stock worth $35,000 after purchasing an additional 4,891 shares during the last quarter. Signaturefd LLC boosted its holdings in B&G Foods by 930.2% during the first quarter. Signaturefd LLC now owns 6,748 shares of the company's stock worth $46,000 after buying an additional 6,093 shares in the last quarter. CWM LLC grew its holdings in shares of B&G Foods by 61.2% in the 1st quarter. CWM LLC now owns 7,518 shares of the company's stock worth $52,000 after acquiring an additional 2,855 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after purchasing an additional 2,658 shares in the last quarter. Finally, Sigma Planning Corp acquired a new stake in shares of B&G Foods during the first quarter valued at approximately $69,000. Institutional investors and hedge funds 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.