B&G Foods (NYSE:BGS) Issues Earnings Results

Key Points

• B&G Foods reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.03, and updated its FY 2025 guidance to 0.500-0.600 EPS.
• The company announced a quarterly dividend of $0.19, representing an annualized amount of $0.76 and a dividend yield of 18.4%.
• Analysts have set a target price for B&G Foods, with Piper Sandler lowering their price target from $7.00 to $5.00, while Barclays reduced it from $5.00 to $4.00.

B&G Foods (NYSE:BGS - Get Free Report) issued its earnings results on Monday. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03), Zacks reports. The business had revenue of $424.43 million for the quarter, compared to the consensus estimate of $427.80 million. B&G Foods had a positive return on equity of 6.88% and a negative net margin of 12.02%. The firm's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 earnings per share. B&G Foods updated its FY 2025 guidance to 0.500-0.600 EPS.

B&G Foods Stock Performance

NYSE:BGS traded up $0.09 during midday trading on Wednesday, hitting $4.09. The company's stock had a trading volume of 1,359,155 shares, compared to its average volume of 2,478,788. B&G Foods has a fifty-two week low of $3.67 and a fifty-two week high of $9.44. The firm's 50 day moving average is $4.30 and its 200-day moving average is $5.57. The company has a debt-to-equity ratio of 3.90, a current ratio of 3.32 and a quick ratio of 1.07. The firm has a market cap of $325.98 million, a P/E ratio of -1.43 and a beta of 0.48.

B&G Foods Announces Dividend

The firm also recently declared 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 18.6%. The ex-dividend date is Tuesday, September 30th. B&G Foods's dividend payout ratio is -28.57%.

Analyst Ratings Changes

BGS has been the subject of several analyst reports. Barclays decreased their price target on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Royal Bank Of Canada decreased their price target on shares of B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a research report on Tuesday. Finally, Piper Sandler decreased their price objective on shares of 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 investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.10.

Hedge Funds Weigh In On B&G Foods

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in 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 worth $12,970,000 after buying an additional 1,875,589 shares during the period. Goldman Sachs Group Inc. increased its holdings in B&G Foods by 28.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company's stock worth $4,851,000 after buying an additional 155,503 shares during the period. Empowered Funds LLC grew its stake in shares of B&G Foods by 6.6% during the 1st quarter. Empowered Funds LLC now owns 353,878 shares of the company's stock worth $2,431,000 after purchasing an additional 22,064 shares during the period. Royal Bank of Canada grew its stake in shares of B&G Foods by 14.4% during the 1st quarter. Royal Bank of Canada now owns 256,421 shares of the company's stock worth $1,761,000 after purchasing an additional 32,253 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of B&G Foods by 29.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 250,510 shares of the company's stock worth $1,721,000 after purchasing an additional 57,188 shares during the period. Institutional investors and hedge funds own 66.15% of the company's stock.

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.