Brokerages Set B&G Foods, Inc. (NYSE:BGS) Target Price at $7.30

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has been assigned an average recommendation of "Reduce" from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.30.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BGS. Stratos Wealth Partners LTD. grew its position in B&G Foods by 12.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company's stock valued at $101,000 after acquiring an additional 1,599 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in B&G Foods by 3.1% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 53,791 shares of the company's stock worth $370,000 after acquiring an additional 1,602 shares during the period. Tower Research Capital LLC TRC grew its holdings in B&G Foods by 5.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,158 shares of the company's stock worth $215,000 after acquiring an additional 1,718 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in B&G Foods by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,463 shares of the company's stock worth $306,000 after purchasing an additional 1,900 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in shares of B&G Foods by 2.3% in the first quarter. SummerHaven Investment Management LLC now owns 100,737 shares of the company's stock valued at $692,000 after acquiring an additional 2,219 shares in the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Trading Down 0.6%

Shares of BGS stock traded down $0.03 during trading hours on Monday, hitting $4.44. 579,860 shares of the company were exchanged, compared to its average volume of 2,290,854. The firm has a market cap of $353.90 million, a P/E ratio of -13.04 and a beta of 0.74. B&G Foods has a fifty-two week low of $4.06 and a fifty-two week high of $9.78. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The company has a 50 day simple moving average of $6.39 and a two-hundred day simple moving average of $6.68.

B&G Foods (NYSE:BGS - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $425.40 million for the quarter, compared to the consensus estimate of $459.40 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company's revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts anticipate that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Monday, June 30th will be given a $0.19 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.76 annualized dividend and a yield of 17.14%. B&G Foods's dividend payout ratio is presently -28.57%.

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.