B&G Foods, Inc. (NYSE:BGS) Given Consensus Rating of “Hold” by Analysts

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B&G Foods, Inc. (NYSE:BGS) has earned an average rating of “Hold” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $25.94.

A number of analysts have issued reports on BGS shares. Evercore ISI started coverage on B&G Foods in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $25.00 target price for the company. Barclays reiterated a “hold” rating and issued a $22.00 price target on shares of B&G Foods in a research report on Monday, July 15th. Credit Suisse Group reduced their price target on B&G Foods from $19.00 to $17.00 and set an “underperform” rating for the company in a research report on Friday, August 30th. Finally, ValuEngine upgraded B&G Foods from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd.

In related news, Director Deann L. Brunts purchased 2,483 shares of B&G Foods stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $18.98 per share, for a total transaction of $47,127.34. Following the completion of the transaction, the director now owns 22,272 shares in the company, valued at $422,722.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc purchased a new position in B&G Foods during the second quarter worth about $37,000. TRUE Private Wealth Advisors purchased a new position in B&G Foods during the second quarter worth about $44,000. Clear Perspective Advisors LLC purchased a new position in B&G Foods during the second quarter worth about $81,000. Griffin Asset Management Inc. purchased a new position in B&G Foods during the second quarter worth about $223,000. Finally, Westhampton Capital LLC purchased a new position in B&G Foods during the second quarter worth about $224,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

NYSE:BGS traded down $0.50 during trading hours on Wednesday, reaching $16.35. The stock had a trading volume of 1,333,271 shares, compared to its average volume of 1,109,136. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.97 and a current ratio of 3.02. The stock has a 50 day simple moving average of $18.56 and a 200 day simple moving average of $21.14. B&G Foods has a 12-month low of $16.70 and a 12-month high of $31.60. The stock has a market cap of $1.10 billion, a P/E ratio of 8.84 and a beta of 0.46.

B&G Foods (NYSE:BGS) last released its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. B&G Foods had a return on equity of 13.04% and a net margin of 10.75%. The business had revenue of $371.20 million during the quarter, compared to the consensus estimate of $370.24 million. During the same period last year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts expect that B&G Foods will post 1.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 11.62%. The ex-dividend date is Friday, September 27th. B&G Foods’s dividend payout ratio (DPR) is presently 102.70%.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, cookies and crackers, nut clusters, and other specialty products.

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Analyst Recommendations for B&G Foods (NYSE:BGS)

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