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

B&G Foods, Inc. (NYSE:BGS) has been given an average recommendation of “Reduce” by the five brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.30.

A number of research analysts recently weighed in on BGS shares. TD Cowen cut their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a report on Wednesday, November 6th. Evercore ISI dropped 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 note on Wednesday, November 6th. Barclays dropped their price objective on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. StockNews.com raised shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research note on Wednesday, August 7th.

B&G Foods Trading Down 1.3 %

Shares of BGS opened at $6.21 on Friday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. B&G Foods has a 1 year low of $6.20 and a 1 year high of $11.97. The company has a 50 day simple moving average of $8.30 and a two-hundred day simple moving average of $8.57. The firm has a market cap of $491.58 million, a P/E ratio of -18.26 and a beta of 0.61.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share (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 for the quarter, compared to analysts’ expectations of $473.82 million. During the same period last year, the business earned $0.27 earnings per share. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities analysts expect that B&G Foods will post 0.73 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 12.24%. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Insider Buying and Selling at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the transaction, the executive vice president now owns 66,095 shares in the company, valued at $550,571.35. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott E. Lerner purchased 7,611 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average price of $6.57 per share, for a total transaction of $50,004.27. Following the purchase, the executive vice president now directly owns 196,755 shares in the company, valued at $1,292,680.35. This represents a 4.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 85,111 shares of company stock worth $561,804 over the last quarter. Insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

Several large investors have recently added to or reduced their stakes in BGS. Geode Capital Management LLC raised its stake in shares of B&G Foods by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock worth $16,018,000 after purchasing an additional 24,995 shares during the last quarter. Barclays PLC raised its stake in shares of B&G Foods by 310.1% in the third quarter. Barclays PLC now owns 130,693 shares of the company’s stock worth $1,160,000 after purchasing an additional 98,824 shares during the last quarter. Stifel Financial Corp raised its stake in shares of B&G Foods by 1.9% in the third quarter. Stifel Financial Corp now owns 181,529 shares of the company’s stock worth $1,612,000 after purchasing an additional 3,359 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of B&G Foods in the third quarter worth about $962,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in B&G Foods during the third quarter valued at approximately $102,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

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.