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

B&G Foods, Inc. (NYSE:BGS) has earned 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 rating and four have assigned a hold rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.30.

Several equities analysts have weighed in on BGS shares. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. TD Cowen dropped their price objective on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. Barclays decreased their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Evercore ISI reduced their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th.

Insider Activity

In other news, EVP Eric H. Hart purchased 5,000 shares of B&G Foods stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $6.25 per share, with a total value of $31,250.00. Following the transaction, the executive vice president now directly owns 88,899 shares in the company, valued at $555,618.75. The trade was a 5.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Andrew D. Vogel acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the purchase, the executive vice president now owns 37,064 shares in the company, valued at approximately $235,727.04. This represents a 25.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 90,111 shares of company stock valued at $593,054 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On B&G Foods

Several large investors have recently bought and sold shares of BGS. American Century Companies Inc. increased its holdings in B&G Foods by 71.3% in the second quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock worth $13,254,000 after purchasing an additional 682,688 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in B&G Foods by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock worth $15,501,000 after purchasing an additional 485,714 shares in the last quarter. AQR Capital Management LLC increased its holdings in B&G Foods by 154.0% in the second quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock worth $5,065,000 after purchasing an additional 380,054 shares in the last quarter. Verition Fund Management LLC grew its stake in B&G Foods by 3,480.9% in the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after acquiring an additional 368,799 shares during the period. Finally, Savoir Faire Capital Management L.P. grew its stake in B&G Foods by 37.5% in the second quarter. Savoir Faire Capital Management L.P. now owns 528,250 shares of the company’s stock valued at $4,268,000 after acquiring an additional 144,146 shares during the period. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Stock Up 1.0 %

Shares of NYSE BGS opened at $7.83 on Tuesday. The company has a market cap of $619.85 million, a P/E ratio of -23.03 and a beta of 0.54. The firm has a 50-day simple moving average of $7.48 and a two-hundred day simple moving average of $8.18. B&G Foods has a 1 year low of $6.12 and a 1 year high of $11.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). 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 $461.10 million during the quarter, compared to analyst estimates of $473.82 million. During the same quarter last year, the business earned $0.27 earnings per share. B&G Foods’s revenue was down 8.3% on a year-over-year basis. Research analysts anticipate that B&G Foods will post 0.73 earnings per share for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 9.71%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s dividend payout ratio (DPR) is -223.53%.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.