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

B&G Foods, Inc. (NYSE:BGS) has received a consensus rating of “Reduce” from the five research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.30.

A number of research analysts have recently weighed in on the stock. Piper Sandler dropped 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 note on Thursday. Barclays dropped their price objective on shares of B&G Foods from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday.

Hedge Funds Weigh In On B&G Foods

A number of institutional investors have recently added to or reduced their stakes in BGS. Signaturefd LLC increased its position in shares of B&G Foods by 930.2% in the 1st 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 last quarter. CWM LLC increased its position in shares of B&G Foods by 61.2% in the 1st 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 last quarter. PNC Financial Services Group Inc. increased its position in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock worth $55,000 after purchasing an additional 2,658 shares during the last quarter. Sigma Planning Corp bought a new stake in shares of B&G Foods in the 1st quarter worth about $69,000. Finally, Independent Wealth Network Inc. bought a new stake in shares of B&G Foods in the 4th quarter worth about $77,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Price Performance

Shares of NYSE:BGS opened at $4.48 on Monday. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The company has a market cap of $357.50 million, a P/E ratio of -13.18 and a beta of 0.74. B&G Foods has a 52 week low of $4.30 and a 52 week high of $9.78. The company has a 50-day moving average price of $6.62 and a 200 day moving average price of $6.77.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.12). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $459.40 million. During the same quarter in the previous year, the business earned $0.18 EPS. B&G Foods’s revenue for the quarter was down 10.5% on a year-over-year basis. Research analysts predict that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 16.96%. B&G Foods’s dividend payout ratio is currently -28.57%.

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.