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

B&G Foods logo with Consumer Staples background

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.

Check Out Our Latest Report on B&G Foods

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

(Get Free Report

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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Analyst Recommendations for B&G Foods (NYSE:BGS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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