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

B&G Foods, Inc. (NYSE:BGS) has been given a consensus recommendation of “Reduce” by the six brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.90.

A number of analysts have recently weighed in on the stock. Evercore set a $5.00 price target on shares of B&G Foods in a report on Wednesday, March 4th. TD Cowen restated a “sell” rating on shares of B&G Foods in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. Finally, Barclays raised their price target on shares of B&G Foods from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Tuesday, April 14th.

B&G Foods Stock Up 1.7%

Shares of B&G Foods stock opened at $5.36 on Friday. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.32 and a quick ratio of 1.43. B&G Foods has a 1 year low of $3.67 and a 1 year high of $7.05. The firm’s 50-day moving average is $5.22 and its two-hundred day moving average is $4.74. The stock has a market cap of $430.76 million, a price-to-earnings ratio of -9.92 and a beta of 0.46.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. B&G Foods had a negative net margin of 2.37% and a positive return on equity of 8.43%. The company had revenue of $539.56 million for the quarter, compared to analysts’ expectations of $537.50 million. During the same period in the prior year, the business earned $0.31 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that B&G Foods will post 0.54 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date is Tuesday, March 31st. B&G Foods’s dividend payout ratio (DPR) is currently -140.74%.

Insider Activity

In other news, Director David L. Wenner sold 19,500 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total value of $101,205.00. Following the sale, the director directly owned 787,566 shares in the company, valued at approximately $4,087,467.54. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew D. Vogel sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $103,800.00. Following the completion of the sale, the executive vice president owned 50,679 shares in the company, valued at $263,024.01. This represents a 28.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 50,821 shares of company stock worth $266,138. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of B&G Foods

Institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in B&G Foods by 502.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock worth $31,000 after purchasing an additional 6,207 shares in the last quarter. Triumph Capital Management acquired a new stake in B&G Foods in the 3rd quarter worth approximately $34,000. Allworth Financial LP boosted its stake in B&G Foods by 49.5% in the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock worth $35,000 after purchasing an additional 2,612 shares in the last quarter. Federated Hermes Inc. acquired a new stake in B&G Foods in the 2nd quarter worth approximately $35,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in B&G Foods in the 3rd quarter worth approximately $45,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.