BGS

Piper Sandler Upgrades B&G Foods (BGS)

Fintel reports that on May 16, 2024, Piper Sandler upgraded their outlook for B&G Foods (NYSE:BGS) from Underweight to Neutral.

Analyst Price Forecast Suggests 14.32% Upside

As of May 8, 2024, the average one-year price target for B&G Foods is 10.35. The forecasts range from a low of 8.08 to a high of $12.60. The average price target represents an increase of 14.32% from its latest reported closing price of 9.05.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for B&G Foods is 2,227MM, an increase of 9.94%. The projected annual non-GAAP EPS is 1.26.

B&G Foods Declares $0.19 Dividend

On February 26, 2024 the company declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Shareholders of record as of March 28, 2024 received the payment on April 30, 2024. Previously, the company paid $0.19 per share.

At the current share price of 9.05 / share, the stocks dividend yield is {1}%.

The current dividend yield is 0.35 standard deviations above the historical average.

Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The companys 3-Year dividend growth rate is {0}%.

What is the Fund Sentiment?

There are 480 funds or institutions reporting positions in B&G Foods. This is an increase of 3 owner(s) or 0.63% in the last quarter. Average portfolio weight of all funds dedicated to BGS is 0.06%, an increase of 4.05%. Total shares owned by institutions increased in the last three months by 8.57% to 58,788K shares. BGS / B&G Foods, Inc. Put/Call Ratios The put/call ratio of BGS is 1.44, indicating a bearish outlook.

What are Other Shareholders Doing?

BGS / B&G Foods, Inc. Shares Held by Institutions

IJR - iShares Core S&P Small-Cap ETF holds 5,261K shares representing 6.66% ownership of the company. In its prior filing, the firm reported owning 4,886K shares , representing an increase of 7.14%. The firm decreased its portfolio allocation in BGS by 1.13% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,716K shares representing 3.44% ownership of the company. In its prior filing, the firm reported owning 2,211K shares , representing an increase of 18.60%. The firm increased its portfolio allocation in BGS by 16.55% over the last quarter.

Charles Schwab Investment Management holds 2,022K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 1,757K shares , representing an increase of 13.10%. The firm increased its portfolio allocation in BGS by 2.20% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,002K shares representing 2.53% ownership of the company. In its prior filing, the firm reported owning 1,764K shares , representing an increase of 11.87%. The firm increased its portfolio allocation in BGS by 5.82% over the last quarter.

IWM - iShares Russell 2000 ETF holds 1,930K shares representing 2.44% ownership of the company. In its prior filing, the firm reported owning 1,655K shares , representing an increase of 14.23%. The firm decreased its portfolio allocation in BGS by 4.30% over the last quarter.

B&G Foods Background Information
(This description is provided by the company.)

Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including Back to Nature, B&G, B&M, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria, there’s a little something for everyone.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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