Analysts Set B&G Foods, Inc. (NYSE:BGS) Price Target at $15.70

Shares of B&G Foods, Inc. (NYSE:BGS – Get Rating) have been given an average recommendation of “Hold” by the seven analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $15.70.

BGS has been the subject of several analyst reports. Consumer Edge downgraded shares of B&G Foods from an “equal weight” rating to an “underweight” rating and set a $9.00 target price for the company. in a research note on Thursday, December 1st. StockNews.com initiated coverage on shares of B&G Foods in a research note on Thursday. They issued a “sell” rating for the company.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, CFO Bruce C. Wacha sold 12,500 shares of the stock in a transaction on Friday, March 10th. The shares were sold at an average price of $14.81, for a total transaction of $185,125.00. Following the transaction, the chief financial officer now directly owns 46,491 shares in the company, valued at approximately $688,531.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by insiders.

Institutional Trading of B&G Foods

Institutional investors and hedge funds have recently modified their holdings of the business. Rodgers Brothers Inc. increased its holdings in shares of B&G Foods by 2.4% in the 1st quarter. Rodgers Brothers Inc. now owns 25,740 shares of the company’s stock worth $694,000 after acquiring an additional 615 shares during the period. M Holdings Securities Inc. increased its holdings in shares of B&G Foods by 4.0% in the 2nd quarter. M Holdings Securities Inc. now owns 19,548 shares of the company’s stock worth $465,000 after acquiring an additional 754 shares during the period. Commerce Bank increased its holdings in shares of B&G Foods by 8.1% in the 3rd quarter. Commerce Bank now owns 10,953 shares of the company’s stock worth $180,000 after acquiring an additional 818 shares during the period. CWM LLC increased its holdings in shares of B&G Foods by 35.2% in the 3rd quarter. CWM LLC now owns 3,183 shares of the company’s stock worth $52,000 after acquiring an additional 829 shares during the period. Finally, Belpointe Asset Management LLC increased its holdings in shares of B&G Foods by 3.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 26,398 shares of the company’s stock worth $436,000 after acquiring an additional 956 shares during the period. 63.71% of the stock is owned by institutional investors and hedge funds.

B&G Foods Price Performance

BGS opened at $14.91 on Thursday. The company has a quick ratio of 1.08, a current ratio of 3.75 and a debt-to-equity ratio of 2.70. B&G Foods has a 52-week low of $10.91 and a 52-week high of $29.33. The company has a 50 day moving average of $13.81 and a two-hundred day moving average of $14.65. The company has a market cap of $1.07 billion, a P/E ratio of -99.40 and a beta of 0.44.

B&G Foods (NYSE:BGS – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.17. B&G Foods had a negative net margin of 0.53% and a positive return on equity of 8.97%. The company had revenue of $623.23 million during the quarter, compared to the consensus estimate of $583.86 million. During the same period in the previous year, the firm earned $0.39 earnings per share. B&G Foods’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts expect that B&G Foods will post 1.02 earnings per share for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Friday, March 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, March 30th. This represents a $0.76 dividend on an annualized basis and a yield of 5.10%. B&G Foods’s dividend payout ratio (DPR) is -506.67%.

B&G Foods Company Profile

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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.