B&G Foods, Inc. (NYSE:BGS) Given Consensus Rating of “Reduce” by Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned a consensus recommendation of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.6667.

BGS has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th. Cowen reiterated a “sell” rating on shares of B&G Foods in a report on Friday. Finally, Zacks Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th.

B&G Foods Stock Up 5.4%

Shares of NYSE BGS opened at $4.49 on Friday. The company has a debt-to-equity ratio of 4.29, a current ratio of 3.20 and a quick ratio of 1.30. B&G Foods has a 1 year low of $3.67 and a 1 year high of $8.06. The company has a 50 day simple moving average of $4.48 and a 200 day simple moving average of $4.41. The firm has a market cap of $359.11 million, a PE ratio of -1.42 and a beta of 0.40.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $439.30 million for the quarter, compared to analyst estimates of $435.47 million. B&G Foods had a negative net margin of 13.61% and a positive return on equity of 8.50%. B&G Foods’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. On average, research analysts forecast that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.76 annualized dividend and a yield of 16.9%. B&G Foods’s payout ratio is presently -24.05%.

Insider Buying and Selling

In other B&G Foods news, Director Dennis M. Mullen sold 18,795 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $4.50, for a total value of $84,577.50. Following the transaction, the director directly owned 83,956 shares of the company’s stock, valued at approximately $377,802. The trade was a 18.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BGS. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 acquiring an additional 6,207 shares during the last quarter. Triumph Capital Management acquired a new position in B&G Foods during the 3rd quarter valued at about $34,000. Allworth Financial LP increased its holdings in B&G Foods by 49.5% during 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. purchased a new stake in shares of B&G Foods in the second quarter worth approximately $35,000. Finally, Signaturefd LLC raised its stake in shares of B&G Foods by 48.7% in the second quarter. Signaturefd LLC now owns 10,036 shares of the company’s stock worth $42,000 after purchasing an additional 3,288 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Company Profile

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.