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

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned an average rating of “Reduce” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $4.3750.

Several analysts have issued reports on BGS shares. Zacks Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Cowen reissued a “sell” rating on shares of B&G Foods in a research report on Friday. TD Cowen boosted their price target on B&G Foods from $3.00 to $3.50 and gave the company a “sell” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th.

B&G Foods Stock Performance

BGS opened at $4.25 on Friday. The company has a quick ratio of 1.30, a current ratio of 3.20 and a debt-to-equity ratio of 4.29. The stock’s 50 day moving average price is $4.47 and its two-hundred day moving average price is $4.40. The firm has a market capitalization of $339.52 million, a P/E ratio of -1.34 and a beta of 0.40. B&G Foods has a 12-month low of $3.67 and a 12-month high of $8.06.

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 during the quarter, compared to analyst estimates of $435.47 million. B&G Foods had a positive return on equity of 8.50% and a negative net margin of 13.61%.The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. On average, equities analysts forecast that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 17.9%. B&G Foods’s payout ratio is currently -24.05%.

Insider Transactions at B&G Foods

In other B&G Foods news, Director Dennis M. Mullen sold 18,795 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $4.50, for a total value of $84,577.50. Following the sale, the director owned 83,956 shares of the company’s stock, valued at $377,802. The trade was a 18.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BGS. Royal Bank of Canada boosted its stake in shares of B&G Foods by 14.4% in the 1st quarter. Royal Bank of Canada now owns 256,421 shares of the company’s stock valued at $1,761,000 after purchasing an additional 32,253 shares in the last quarter. AQR Capital Management LLC lifted its holdings in B&G Foods by 5.3% during the 1st quarter. AQR Capital Management LLC now owns 163,781 shares of the company’s stock valued at $1,125,000 after purchasing an additional 8,272 shares during the last quarter. Millennium Management LLC lifted its holdings in B&G Foods by 15,131.8% during the 1st quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after purchasing an additional 1,875,589 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in B&G Foods by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company’s stock valued at $4,851,000 after buying an additional 155,503 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in B&G Foods by 6.6% in the first quarter. Empowered Funds LLC now owns 353,878 shares of the company’s stock valued at $2,431,000 after buying an additional 22,064 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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.