B&G Foods, Inc. (NYSE:BGS) Receives $6.10 Average Price Target from Brokerages

Key Points

• B&G Foods, Inc. has received a consensus recommendation of "Reduce" from five brokerages, with one analyst rating the stock as a sell and four as hold.
• The company's most recent earnings report showed an EPS of $0.04, missing estimates, with a negative net margin of 12.02% and a revenue decrease of 4.5% compared to the previous year.
• B&G Foods declared a quarterly dividend of $0.19, resulting in an annualized yield of 16.9%, despite a payout ratio of -26.86%.

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $6.10.

A number of brokerages have recently commented on BGS. Barclays dropped their target price on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Royal Bank Of Canada dropped their target price on shares of B&G Foods from $6.00 to $5.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th.

B&G Foods Trading Up 2.0%

NYSE:BGS traded up $0.09 during trading hours on Friday, hitting $4.63. The company had a trading volume of 2,489,205 shares, compared to its average volume of 2,087,431. The company has a market capitalization of $370.40 million, a PE ratio of -1.64 and a beta of 0.46. The stock has a 50-day moving average price of $4.36 and a 200 day moving average price of $5.14. B&G Foods has a 52 week low of $3.67 and a 52 week high of $9.44. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89.

B&G Foods (NYSE:BGS - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $424.43 million during the quarter, compared to the consensus estimate of $427.80 million. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The business's revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. On average, equities research analysts predict that B&G Foods will post 0.7 EPS for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date is Tuesday, September 30th. B&G Foods's payout ratio is -26.86%.

Hedge Funds Weigh In On B&G Foods

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of 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 raised its position in shares of B&G Foods by 930.2% in the 1st quarter. Signaturefd LLC now owns 6,748 shares of the company's stock worth $46,000 after purchasing an additional 6,093 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of B&G Foods by 502.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company's stock worth $31,000 after purchasing an additional 6,207 shares during the last quarter. CWM LLC raised its position 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 purchasing an additional 2,855 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of B&G Foods in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 66.15% of the company's stock.

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.