Analysts Set B&G Foods, Inc. (NYSE:BGS) Price Target at $8.30

B&G Foods, Inc. (NYSE:BGS) has earned an average recommendation of “Reduce” from the five research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.30.

BGS has been the subject of several recent analyst reports. Evercore ISI cut their price objective on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 price target on shares of B&G Foods in a report on Wednesday, August 7th. TD Cowen dropped their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday, November 6th. StockNews.com upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Finally, Barclays dropped their price target on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th.

B&G Foods Stock Performance

Shares of BGS stock opened at $6.39 on Friday. B&G Foods has a one year low of $6.12 and a one 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. The stock has a market cap of $505.44 million, a P/E ratio of -18.78 and a beta of 0.61. The company has a fifty day moving average price of $8.17 and a two-hundred day moving average price of $8.49.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. During the same quarter last year, the company posted $0.27 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, equities analysts predict that B&G Foods will post 0.73 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 11.90%. The ex-dividend date is Tuesday, December 31st. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Insider Buying and Selling

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

Institutional Investors Weigh In On B&G Foods

A number of institutional investors have recently modified their holdings of BGS. Innealta Capital LLC bought a new stake in shares of B&G Foods in the second quarter worth $33,000. nVerses Capital LLC bought a new stake in B&G Foods during the 2nd quarter valued at approximately $33,000. Russell Investments Group Ltd. boosted its position in shares of B&G Foods by 1,556.9% during the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock worth $56,000 after acquiring an additional 4,624 shares during the last quarter. LRI Investments LLC purchased a new position in shares of B&G Foods during the first quarter valued at about $60,000. Finally, Versant Capital Management Inc grew its holdings in B&G Foods by 36.9% during the 2nd quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after buying an additional 1,555 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

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.