B&G Foods (NYSE:BGS) Lowered to “Sell” at StockNews.com

StockNews.com lowered shares of B&G Foods (NYSE:BGSFree Report) from a hold rating to a sell rating in a research note released on Friday.

Separately, Piper Sandler upped their price target on shares of B&G Foods from $8.00 to $9.00 and gave the company an underweight rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Reduce and an average price target of $9.50.

Check Out Our Latest Report on BGS

B&G Foods Price Performance

Shares of BGS stock traded down $0.27 during mid-day trading on Friday, hitting $8.01. The company had a trading volume of 4,098,465 shares, compared to its average volume of 1,023,088. The company has a debt-to-equity ratio of 2.58, a current ratio of 3.22 and a quick ratio of 0.89. The stock’s 50 day moving average price is $10.96 and its 200-day moving average price is $10.24. B&G Foods has a 52-week low of $7.20 and a 52-week high of $15.15. The company has a market capitalization of $633.19 million, a P/E ratio of -5.56 and a beta of 0.70.

B&G Foods (NYSE:BGSGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $475.22 million during the quarter, compared to analysts’ expectations of $480.93 million. B&G Foods had a positive return on equity of 8.33% and a negative net margin of 5.42%. B&G Foods’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities research analysts forecast that B&G Foods will post 0.83 earnings per share for the current year.

B&G Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a dividend of $0.19 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.76 annualized dividend and a yield of 9.49%. B&G Foods’s payout ratio is presently -52.78%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in B&G Foods by 1,556.9% during the 1st quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after purchasing an additional 4,624 shares during the last quarter. Signaturefd LLC raised its holdings in shares of B&G Foods by 58.2% in the fourth quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock worth $64,000 after buying an additional 2,254 shares during the period. CWM LLC lifted its stake in shares of B&G Foods by 57.6% during the 4th quarter. CWM LLC now owns 6,257 shares of the company’s stock worth $66,000 after acquiring an additional 2,287 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in B&G Foods during the 3rd quarter valued at $70,000. Finally, GAMMA Investing LLC bought a new position in B&G Foods in the 4th quarter valued at $76,000. Institutional investors own 66.15% of the company’s stock.

B&G Foods Company Profile

(Get Free Report)

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, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.

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