TD Cowen Issues Positive Forecast for B&G Foods (NYSE:BGS) Stock Price

B&G Foods (NYSE:BGS) had its target price upped by TD Cowen from $3.00 to $3.50 in a report published on Friday,Benzinga reports. They currently have a sell rating on the stock.

Other analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. Cowen restated a “sell” rating on shares of B&G Foods in a research note on Friday. Finally, Zacks Research raised shares of B&G Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, B&G Foods presently has a consensus rating of “Reduce” and a consensus price target of $4.38.

B&G Foods Stock Performance

B&G Foods stock opened at $4.40 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. The firm has a market capitalization of $351.90 million, a P/E ratio of -1.39 and a beta of 0.40. B&G Foods has a 1-year low of $3.67 and a 1-year high of $8.06. The company’s 50-day moving average is $4.48 and its 200 day moving average is $4.41.

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

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 17.3%. B&G Foods’s dividend payout ratio (DPR) is currently -24.05%.

Insider Buying and Selling at B&G Foods

In related news, Director Dennis M. Mullen sold 18,795 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $4.50, for a total transaction of $84,577.50. Following the sale, the director owned 83,956 shares of the company’s stock, valued at $377,802. This trade represents a 18.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by company insiders.

Institutional Trading of B&G Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of B&G Foods by 502.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock valued at $31,000 after purchasing an additional 6,207 shares during the period. Triumph Capital Management purchased a new position in B&G Foods during the 3rd quarter worth approximately $34,000. Allworth Financial LP lifted its stake in B&G Foods by 49.5% during the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock valued at $35,000 after acquiring an additional 2,612 shares during the period. Federated Hermes Inc. purchased a new stake in shares of B&G Foods in the 2nd quarter valued at $35,000. Finally, Signaturefd LLC boosted its holdings in shares of B&G Foods by 48.7% in the 2nd quarter. Signaturefd LLC now owns 10,036 shares of the company’s stock valued at $42,000 after acquiring an additional 3,288 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

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.