Brokerages Set B&G Foods, Inc. (NYSE:BGS) PT at $7.10

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 an average recommendation of "Reduce" by the five analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.10.

BGS has been the subject of a number of research reports. Piper Sandler cut 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 target on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th.

B&G Foods Trading Up 2.4%

Shares of BGS traded up $0.10 on Friday, reaching $4.51. 1,503,025 shares of the company's stock were exchanged, compared to its average volume of 3,059,386. The company has a current ratio of 3.32, a quick ratio of 1.07 and a debt-to-equity ratio of 3.90. The stock has a market capitalization of $360.22 million, a P/E ratio of 8.05 and a beta of 0.54. The business has a 50 day moving average price of $4.30 and a two-hundred day moving average price of $5.69. B&G Foods has a 12 month low of $3.97 and a 12 month high of $9.44.

B&G Foods (NYSE:BGS - Get Free Report) last released 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). B&G Foods had a negative net margin of 11.16% and a positive return on equity of 7.00%. The business had revenue of $425.40 million for the quarter, compared to the consensus estimate of $459.40 million. During the same quarter last year, the firm earned $0.18 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. Research analysts anticipate that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 16.84%. The ex-dividend date of this dividend is Monday, June 30th. B&G Foods's dividend payout ratio (DPR) is presently -28.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted 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 purchasing an additional 4,891 shares during the last quarter. Signaturefd LLC boosted its stake in B&G Foods by 48.7% during the second quarter. Signaturefd LLC now owns 10,036 shares of the company's stock worth $42,000 after buying an additional 3,288 shares during the period. Greenleaf Trust purchased a new position in B&G Foods during the second quarter worth $48,000. Comprehensive Money Management Services LLC purchased a new position in B&G Foods during the second quarter worth $48,000. Finally, CWM LLC boosted its stake in B&G Foods by 61.2% during the first quarter. CWM LLC now owns 7,518 shares of the company's stock worth $52,000 after buying an additional 2,855 shares during the period. 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.