Brokerages Set B&G Foods Inc. (BGS) Target Price at $49.50
B&G Foods Inc. (NYSE:BGS) has been assigned an average recommendation of “Hold” from the nine analysts that are currently covering the company. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $49.50.
BGS has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Monday, August 1st. DA Davidson upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $52.00 in a research note on Friday, July 29th. Credit Suisse Group AG set a $55.00 price target on shares of B&G Foods and gave the stock a “hold” rating in a research note on Friday, October 7th. RBC Capital Markets reiterated an “outperform” rating and issued a $57.00 price target (up previously from $52.00) on shares of B&G Foods in a research note on Friday, September 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of B&G Foods from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd.
Shares of B&G Foods (NYSE:BGS) opened at 39.20 on Tuesday. The company has a market capitalization of $2.60 billion and a PE ratio of 22.43. B&G Foods has a 1-year low of $31.81 and a 1-year high of $52.84. The company has a 50 day moving average price of $46.65 and a 200 day moving average price of $46.03.
B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, October 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The company earned $318.20 million during the quarter, compared to the consensus estimate of $335.52 million. B&G Foods had a net margin of 8.09% and a return on equity of 21.79%. B&G Foods’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. Equities analysts predict that B&G Foods will post $2.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Stockholders of record on Friday, December 30th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 4.74%. This is a boost from B&G Foods’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, December 28th. B&G Foods’s dividend payout ratio is currently 97.11%.
Hedge funds have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in B&G Foods by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,502,565 shares of the company’s stock worth $52,304,000 after buying an additional 65,228 shares during the period. Principal Financial Group Inc. increased its position in shares of B&G Foods by 4.5% in the second quarter. Principal Financial Group Inc. now owns 904,050 shares of the company’s stock worth $43,576,000 after buying an additional 39,321 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of B&G Foods by 23.5% in the second quarter. Teacher Retirement System of Texas now owns 8,743 shares of the company’s stock worth $421,000 after buying an additional 1,666 shares in the last quarter. Barclays PLC increased its position in shares of B&G Foods by 39,789.4% in the first quarter. Barclays PLC now owns 18,748 shares of the company’s stock worth $638,000 after buying an additional 18,701 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in shares of B&G Foods during the third quarter worth approximately $256,000. 76.87% of the stock is currently owned by institutional investors.
About B&G Foods
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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