B&G Foods, Inc. (NYSE:BGS) Receives Consensus Recommendation of "Reduce" from Brokerages

Key Points

• B&G Foods, Inc. has received a consensus recommendation of "Reduce" from brokerages, with two analysts rating it as a sell and five as a hold.
• The average 1-year price target for B&G Foods stock is $6.10, while its shares are currently trading around $4.20.
• Institutional investors hold 66.15% of B&G Foods stock, with significant recent purchases from various asset management firms suggesting increased interest in the company.

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have been assigned a consensus rating of "Reduce" from the seven brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.10.

BGS has been the topic of several research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of B&G Foods in a report on Saturday, September 27th. Barclays reduced their price objective on 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. Zacks Research raised B&G Foods from a "strong sell" rating to a "hold" rating in a report on Monday. Finally, Royal Bank Of Canada reduced their price objective on 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 Price Performance

Shares of B&G Foods stock opened at $4.20 on Thursday. B&G Foods has a 1-year low of $3.67 and a 1-year high of $8.90. The firm's 50-day moving average price is $4.41 and its two-hundred day moving average price is $4.87. The company has a current ratio of 2.93, a quick ratio of 0.89 and a debt-to-equity ratio of 3.96. The stock has a market capitalization of $336.02 million, a price-to-earnings ratio of -1.48 and a beta of 0.44.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%.The company had revenue of $424.43 million for the quarter, compared to the consensus estimate of $427.80 million. During the same period in the prior year, the company earned $0.08 EPS. The firm's revenue was down 4.5% compared to the same quarter last year. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. On average, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, September 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 18.1%. The ex-dividend date is Tuesday, September 30th. B&G Foods's dividend payout ratio is currently -26.86%.

Hedge Funds Weigh In On B&G Foods

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in B&G Foods by 3,217.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company's stock valued at $35,000 after buying an additional 4,891 shares during the period. Signaturefd LLC raised its holdings in B&G Foods by 930.2% in the first 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 period. Northwestern Mutual Wealth Management Co. raised its holdings in B&G Foods by 502.2% in the second 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 period. CWM LLC raised its holdings in B&G Foods by 61.2% in the first 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 period. Finally, Federated Hermes Inc. acquired a new stake in B&G Foods in the second quarter worth $35,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.

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