B&G Foods, Inc. (NYSE:BGS) Receives $7.30 Consensus Target Price from Brokerages

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has been assigned an average rating of "Reduce" from the five analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have assigned 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.

A number of equities research analysts have recently weighed in on the stock. Barclays cut their target price on shares of B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Piper Sandler decreased their target price on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 8th.

B&G Foods Price Performance

NYSE BGS traded up $0.03 on Tuesday, hitting $4.57. The stock had a trading volume of 1,652,815 shares, compared to its average volume of 1,807,968. B&G Foods has a 52-week low of $3.97 and a 52-week high of $9.44. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.07 and a current ratio of 3.32. The company has a market capitalization of $364.29 million, a price-to-earnings ratio of -1.72 and a beta of 0.54. The firm has a 50-day moving average of $4.66 and a 200-day moving average of $5.98.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.12). The company had revenue of $425.40 million for the quarter, compared to analysts' expectations of $459.40 million. B&G Foods had a negative net margin of 11.16% and a positive return on equity of 7.00%. The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. Equities analysts expect that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be issued 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 dividend yield of 16.65%. B&G Foods's payout ratio is -28.57%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its position in B&G Foods by 3,217.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company's stock valued at $35,000 after buying an additional 4,891 shares during the period. Signaturefd LLC grew its position in B&G Foods by 930.2% during the first quarter. Signaturefd LLC now owns 6,748 shares of the company's stock valued at $46,000 after buying an additional 6,093 shares during the period. CWM LLC grew its position in B&G Foods by 61.2% during the first quarter. CWM LLC now owns 7,518 shares of the company's stock valued at $52,000 after buying an additional 2,855 shares during the period. PNC Financial Services Group Inc. grew its position in B&G Foods by 50.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock valued at $55,000 after buying an additional 2,658 shares during the period. Finally, Sigma Planning Corp bought a new stake in B&G Foods during the first quarter valued at approximately $69,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

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.