Barclays Cuts B&G Foods (NYSE:BGS) Price Target to $4.00

B&G Foods (NYSE:BGS - Free Report) had its price objective decreased by Barclays from $5.00 to $4.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, Piper Sandler cut their price objective 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. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.10.

B&G Foods Price Performance

BGS traded down $0.06 during trading on Tuesday, hitting $4.07. The company's stock had a trading volume of 2,593,758 shares, compared to its average volume of 2,440,546. The firm's 50 day moving average price is $4.30 and its two-hundred day moving average price is $5.80. The company has a quick ratio of 1.07, a current ratio of 3.32 and a debt-to-equity ratio of 3.90. B&G Foods has a 12 month low of $3.97 and a 12 month high of $9.44. The stock has a market capitalization of $324.79 million, a price-to-earnings ratio of -1.53 and a beta of 0.54.

B&G Foods (NYSE:BGS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $459.40 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that B&G Foods will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Monday, June 30th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 18.67%. The ex-dividend date of this dividend is Monday, June 30th. B&G Foods's payout ratio is -28.57%.

Institutional Investors Weigh In On B&G Foods

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in B&G Foods by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,557 shares of the company's stock worth $23,106,000 after purchasing an additional 744,898 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of B&G Foods by 4,994.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,264,936 shares of the company's stock valued at $15,560,000 after purchasing an additional 2,220,473 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of B&G Foods by 13.7% in the 4th quarter. American Century Companies Inc. now owns 2,226,706 shares of the company's stock valued at $15,342,000 after purchasing an additional 267,455 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of B&G Foods by 15,131.8% in the 1st quarter. Millennium Management LLC now owns 1,887,984 shares of the company's stock valued at $12,970,000 after purchasing an additional 1,875,589 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of B&G Foods by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,809,054 shares of the company's stock valued at $12,468,000 after purchasing an additional 5,646 shares in the last quarter. Institutional investors and hedge funds 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.