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

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has been assigned a consensus rating of "Reduce" from the five ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.30.

BGS has been the topic of several research reports. Barclays cut their price target on shares of B&G Foods from $7.00 to $5.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Piper Sandler reduced their price target on 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 Stock Up 5.2%

Shares of B&G Foods stock traded up $0.22 during trading on Tuesday, reaching $4.45. The company's stock had a trading volume of 4,181,286 shares, compared to its average volume of 1,791,460. B&G Foods has a 1-year low of $3.97 and a 1-year high of $9.44. The company has a 50-day simple moving average of $4.85 and a two-hundred day simple moving average of $6.05. The company has a quick ratio of 1.07, a current ratio of 3.32 and a debt-to-equity ratio of 3.90. The company has a market cap of $355.11 million, a price-to-earnings ratio of -1.67 and a beta of 0.54.

B&G Foods (NYSE:BGS - Get Free Report) last announced 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 negative net margin of 11.16% and a positive return on equity of 7.00%. The company had revenue of $425.40 million during the quarter, compared to analysts' expectations of $459.40 million. During the same period in the previous year, the business earned $0.18 earnings per share. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts forecast that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently declared 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. This represents a $0.76 annualized dividend and a dividend yield of 17.08%. The ex-dividend date of this dividend is Monday, June 30th. B&G Foods's payout ratio is -28.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 buying an additional 2,220,473 shares during the last quarter. Millennium Management LLC boosted its position in shares of B&G Foods by 15,131.8% during the 1st 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 during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 744,898 shares during the period. Cubist Systematic Strategies LLC increased its position in B&G Foods by 1,574.4% during the first quarter. Cubist Systematic Strategies LLC now owns 685,118 shares of the company's stock worth $4,707,000 after purchasing an additional 644,200 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of B&G Foods during the 1st quarter worth approximately $3,488,000. Hedge funds and other institutional investors 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.