B&G Foods Inc. (NYSE:BGS) Receives Average Rating of “Hold” from Analysts
B&G Foods Inc. (NYSE:BGS) has been given an average recommendation of “Hold” by the ten research firms that are covering the stock. Eight investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $46.29.
BGS has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of B&G Foods from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Credit Suisse Group AG reissued a “hold” rating and issued a $45.00 target price on shares of B&G Foods in a research report on Thursday, July 28th. DA Davidson raised shares of B&G Foods from a “neutral” rating to a “buy” rating and raised their target price for the stock from $47.00 to $52.00 in a research report on Friday, July 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $49.00 target price (down from $52.00) on shares of B&G Foods in a research report on Friday, July 29th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $52.00 target price (up from $49.00) on shares of B&G Foods in a research report on Sunday, July 31st.
A number of hedge funds and other institutional investors have recently made changes to their positions in BGS. Mason Street Advisors LLC acquired a new position in shares of B&G Foods during the second quarter worth $590,000. IFP Advisors Inc boosted its position in B&G Foods by 5.4% in the second quarter. IFP Advisors Inc now owns 14,915 shares of the company’s stock worth $719,000 after buying an additional 770 shares during the last quarter. Sterling Capital Management LLC purchased a new position in B&G Foods during the second quarter worth approximately $1,369,000. Calvert Investment Management Inc. purchased a new position in B&G Foods during the second quarter worth approximately $236,000. Finally, Schwab Charles Investment Management Inc. boosted its position in B&G Foods by 8.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 332,306 shares of the company’s stock worth $16,018,000 after buying an additional 27,064 shares during the last quarter. 76.92% of the stock is currently owned by hedge funds and other institutional investors.
B&G Foods (NYSE:BGS) traded down 0.31% during trading on Tuesday, reaching $48.67. 202,827 shares of the company’s stock traded hands. B&G Foods has a 1-year low of $31.81 and a 1-year high of $52.84. The firm has a 50 day moving average of $47.89 and a 200 day moving average of $43.79. The firm has a market capitalization of $3.05 billion, a PE ratio of 30.69 and a beta of 0.32.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The business earned $306.40 million during the quarter, compared to the consensus estimate of $316.56 million. B&G Foods had a net margin of 7.76% and a return on equity of 22.59%. The company’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Equities analysts forecast that B&G Foods will post $2.20 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.68 dividend on an annualized basis and a yield of 3.44%. B&G Foods’s dividend payout ratio (DPR) is 107.01%.
B&G Foods Company Profile
B&G Foods, Inc is a holding company. The Company manufactures, sells and distributes a diverse portfolio of shelf-stable and frozen food, and household products across the United States, 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, wine vinegar, maple syrup, 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, nut clusters and other specialty products.
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