B&G Foods, Inc. (NYSE:BGS) Given Average Rating of “Reduce” by Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned a consensus rating of “Reduce” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.6667.

A number of equities analysts recently weighed in on the stock. Cowen restated a “sell” rating on shares of B&G Foods in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th. Finally, Zacks Research raised shares of B&G Foods from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, Director Dennis M. Mullen sold 18,795 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $4.50, for a total transaction of $84,577.50. Following the completion of the sale, the director directly owned 83,956 shares in the company, valued at $377,802. This trade represents a 18.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of B&G Foods by 502.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock worth $31,000 after buying an additional 6,207 shares during the last quarter. Triumph Capital Management acquired a new stake in shares of B&G Foods in the 3rd quarter valued at approximately $34,000. Allworth Financial LP grew its holdings in shares of B&G Foods by 49.5% during the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock valued at $35,000 after purchasing an additional 2,612 shares during the last quarter. Federated Hermes Inc. acquired a new position in B&G Foods during the 2nd quarter worth approximately $35,000. Finally, Capstone Financial Advisors Inc. acquired a new position in B&G Foods during the 2nd quarter worth approximately $42,000. 66.15% of the stock is owned by institutional investors.

B&G Foods Stock Up 5.4%

Shares of NYSE BGS opened at $4.49 on Friday. B&G Foods has a 52-week low of $3.67 and a 52-week high of $8.06. The company has a debt-to-equity ratio of 4.29, a quick ratio of 1.30 and a current ratio of 3.20. The stock has a market cap of $359.11 million, a P/E ratio of -1.42 and a beta of 0.40. The firm has a 50 day moving average price of $4.48 and a 200 day moving average price of $4.41.

B&G Foods (NYSE:BGS) last posted its earnings results on Wednesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. B&G Foods had a positive return on equity of 8.50% and a negative net margin of 13.61%.The firm had revenue of $439.30 million during the quarter, compared to analysts’ expectations of $435.47 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. Analysts expect 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 Monday, January 26th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.76 annualized dividend and a yield of 16.9%. B&G Foods’s dividend payout ratio (DPR) is currently -24.05%.

About B&G Foods

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.