B&G Foods (NYSE:BGS) Price Target Lowered to $7.00 at Piper Sandler

B&G Foods (NYSE:BGS) had its target price reduced by Piper Sandler from $8.00 to $7.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also weighed in on BGS. Evercore ISI lowered their target price 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 reduced their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, TD Cowen cut their price objective on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.10.

B&G Foods Stock Up 2.8 %

NYSE:BGS opened at $7.02 on Wednesday. The company’s 50 day moving average is $6.59 and its two-hundred day moving average is $7.50. The company has a market cap of $555.73 million, a PE ratio of -20.65 and a beta of 0.50. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. B&G Foods has a twelve month low of $5.45 and a twelve month high of $11.97.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $551.57 million during the quarter, compared to analysts’ expectations of $547.95 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. Analysts anticipate that B&G Foods will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 10.83%. The ex-dividend date is Monday, March 31st. B&G Foods’s dividend payout ratio (DPR) is -23.90%.

Institutional Trading of B&G Foods

A number of institutional investors have recently modified their holdings of the company. PharVision Advisers LLC purchased a new stake in shares of B&G Foods during the 4th quarter worth about $346,000. Two Sigma Advisers LP raised its position in shares of B&G Foods by 279.0% during the 4th quarter. Two Sigma Advisers LP now owns 458,200 shares of the company’s stock valued at $3,157,000 after acquiring an additional 337,300 shares in the last quarter. Two Sigma Investments LP raised its position in shares of B&G Foods by 113.2% during the 4th quarter. Two Sigma Investments LP now owns 830,817 shares of the company’s stock valued at $5,724,000 after acquiring an additional 441,117 shares in the last quarter. ProShare Advisors LLC raised its position in shares of B&G Foods by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 23,456 shares of the company’s stock valued at $162,000 after acquiring an additional 7,211 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in B&G Foods during the 4th quarter worth $261,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.