B&G Foods, Inc. (NYSE:BGS – Get Rating) has earned a consensus rating of "Hold" from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $15.70.
BGS has been the topic of a number of recent analyst reports. Consumer Edge cut shares of B&G Foods from an "equal weight" rating to an "underweight" rating and set a $9.00 price target on the stock. in a report on Thursday, December 1st. BMO Capital Markets cut their price target on shares of B&G Foods from $21.00 to $14.00 and set a "market perform" rating on the stock in a report on Thursday, November 10th. Royal Bank of Canada cut their price target on shares of B&G Foods from $24.00 to $16.00 and set a "sector perform" rating on the stock in a report on Friday, November 11th. Credit Suisse Group cut their price target on shares of B&G Foods from $14.50 to $12.50 and set an "underperform" rating on the stock in a report on Thursday, November 10th. Finally, StockNews.com assumed coverage on shares of B&G Foods in a report on Wednesday, October 12th. They issued a "sell" rating on the stock.
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Shares of BGS opened at $11.15 on Friday. The stock has a market cap of $799.10 million, a PE ratio of -19.91 and a beta of 0.31. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.98 and a current ratio of 3.27. B&G Foods has a fifty-two week low of $10.91 and a fifty-two week high of $34.27. The firm's 50-day simple moving average is $13.44 and its two-hundred day simple moving average is $18.59.
B&G Foods (NYSE:BGS – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.31 earnings per share for the quarter, hitting analysts' consensus estimates of $0.31. B&G Foods had a negative net margin of 1.92% and a positive return on equity of 8.55%. The business had revenue of $528.40 million for the quarter, compared to analysts' expectations of $531.32 million. Analysts anticipate that B&G Foods will post 0.96 earnings per share for the current fiscal year.B&G Foods Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Friday, December 30th will be given a $0.19 dividend. The ex-dividend date is Thursday, December 29th. This represents a $0.76 annualized dividend and a yield of 6.82%. B&G Foods's payout ratio is presently -339.28%.
Insiders Place Their Bets
In other B&G Foods news, Director David L. Wenner purchased 20,000 shares of the firm's stock in a transaction on Monday, November 14th. The shares were acquired at an average cost of $14.01 per share, for a total transaction of $280,200.00. Following the completion of the transaction, the director now owns 760,392 shares of the company's stock, valued at $10,653,091.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company's stock.
Institutional Trading of B&G Foods
Several institutional investors and hedge funds have recently modified their holdings of BGS. Vanguard Group Inc. raised its position in shares of B&G Foods by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,543,629 shares of the company's stock valued at $140,884,000 after purchasing an additional 453,830 shares during the period. State Street Corp raised its position in shares of B&G Foods by 8.5% during the 2nd quarter. State Street Corp now owns 3,743,964 shares of the company's stock valued at $90,719,000 after purchasing an additional 293,363 shares during the period. Victory Capital Management Inc. raised its position in shares of B&G Foods by 29.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,032,272 shares of the company's stock valued at $24,547,000 after purchasing an additional 233,068 shares during the period. Altrius Capital Management Inc bought a new stake in shares of B&G Foods during the 2nd quarter valued at $3,781,000. Finally, BlackRock Inc. raised its position in shares of B&G Foods by 1.3% during the 3rd quarter. BlackRock Inc. now owns 11,268,543 shares of the company's stock valued at $185,818,000 after purchasing an additional 145,921 shares during the period. 63.71% of the stock is currently owned by institutional investors.
About B&G Foods
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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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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