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

Shares of B&G Foods, Inc. (NYSE:BGS) have been given an average rating of “Hold” by the ten brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.86.

Several research analysts have commented on BGS shares. Barclays reissued a “neutral” rating on shares of B&G Foods in a research report on Thursday, May 7th. Piper Sandler raised B&G Foods from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $28.00 in a research report on Tuesday, May 12th. ValuEngine lowered B&G Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, April 7th. Jefferies Financial Group assumed coverage on B&G Foods in a research report on Thursday, May 28th. They set a “hold” rating and a $19.00 target price on the stock. Finally, BMO Capital Markets dropped their target price on B&G Foods from $20.00 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th.

B&G Foods stock traded up $1.37 during midday trading on Monday, reaching $23.24. The stock had a trading volume of 1,486,898 shares, compared to its average volume of 1,397,025. B&G Foods has a twelve month low of $10.39 and a twelve month high of $26.39. The stock has a market capitalization of $1.40 billion, a PE ratio of 17.09 and a beta of 0.25. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.78 and a current ratio of 3.69. The stock’s 50-day simple moving average is $22.19 and its 200 day simple moving average is $17.80.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, May 5th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. B&G Foods had a return on equity of 12.82% and a net margin of 5.17%. The firm had revenue of $449.37 million for the quarter, compared to analysts’ expectations of $431.04 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts predict that B&G Foods will post 2.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Tuesday, June 30th will be paid a $0.475 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.90 dividend on an annualized basis and a yield of 8.18%. B&G Foods’s payout ratio is currently 115.85%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Motco acquired a new position in shares of B&G Foods during the fourth quarter worth approximately $27,000. Lindbrook Capital LLC boosted its position in shares of B&G Foods by 674.4% during the first quarter. Lindbrook Capital LLC now owns 1,541 shares of the company’s stock worth $28,000 after buying an additional 1,342 shares during the period. Advisory Services Network LLC boosted its position in shares of B&G Foods by 107.7% during the fourth quarter. Advisory Services Network LLC now owns 1,755 shares of the company’s stock worth $32,000 after buying an additional 910 shares during the period. Ancora Advisors LLC acquired a new position in shares of B&G Foods during the fourth quarter worth approximately $35,000. Finally, Parallel Advisors LLC boosted its position in shares of B&G Foods by 1,414.1% during the first quarter. Parallel Advisors LLC now owns 2,044 shares of the company’s stock worth $36,000 after buying an additional 1,909 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.

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Analyst Recommendations for B&G Foods (NYSE:BGS)

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