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

Key Points

• B&G Foods, Inc. has received a consensus recommendation of "Reduce" from analysts, with one sell and four hold ratings.
• The average twelve-month price target for the stock is $7.10, with recent adjustments bringing it down to as low as $4.00.
• The company reported a quarterly earnings miss, posting a loss of $0.12 against the consensus estimate, alongside a decline in revenue of 10.5% year-over-year.

B&G Foods, Inc. (NYSE:BGS - Get Free Report) has been given a consensus recommendation of "Reduce" by the five brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $7.10.

A number of research analysts recently commented on the company. Barclays lowered their price objective on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Piper Sandler lowered their price objective on B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th.

B&G Foods Stock Performance

Shares of NYSE BGS traded down $0.02 during trading on Friday, reaching $4.27. The stock had a trading volume of 1,643,993 shares, compared to its average volume of 2,728,860. B&G Foods has a one year low of $3.97 and a one year 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 stock has a market cap of $340.35 million, a PE ratio of -1.60 and a beta of 0.54. The firm's 50 day moving average price is $4.30 and its two-hundred day moving average price is $5.65.

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

B&G Foods Dividend Announcement

The firm also recently declared 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 17.82%. B&G Foods's dividend payout ratio (DPR) is -28.57%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Allianz Asset Management GmbH acquired a new position in shares of B&G Foods during the second quarter valued at $889,000. Sequoia Financial Advisors LLC acquired a new stake in shares of B&G Foods in the second quarter valued at $66,000. CWM LLC lifted its holdings in shares of B&G Foods by 221.4% in the second quarter. CWM LLC now owns 24,162 shares of the company's stock valued at $102,000 after buying an additional 16,644 shares during the period. Comprehensive Money Management Services LLC acquired a new stake in shares of B&G Foods in the second quarter valued at $48,000. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of B&G Foods by 13.9% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 61,249 shares of the company's stock valued at $259,000 after buying an additional 7,458 shares during the period. 66.15% of the stock is owned by institutional investors and hedge funds.

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.