B&G Foods, Inc. (BGS) Rating Increased to Outperform at BMO Capital Markets
B&G Foods, Inc. (NYSE:BGS) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Monday, August 7th, The Fly reports.
BGS has been the topic of several other reports. Zacks Investment Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $52.00 target price on shares of B&G Foods in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.17.
Shares of B&G Foods (BGS) traded down 0.95% during midday trading on Monday, hitting $31.40. The company had a trading volume of 1,263,281 shares. B&G Foods has a 12 month low of $30.80 and a 12 month high of $50.81. The company has a 50-day moving average of $34.30 and a 200 day moving average of $39.48. The firm has a market capitalization of $2.09 billion, a PE ratio of 20.60 and a beta of 0.09.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.06. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The firm had revenue of $368.10 million for the quarter, compared to analysts’ expectations of $376.45 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts expect that B&G Foods will post $2.07 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. raised its position in B&G Foods by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,511 shares of the company’s stock worth $410,000 after buying an additional 30 shares during the period. Maple Capital Management Inc. raised its position in B&G Foods by 0.5% in the first quarter. Maple Capital Management Inc. now owns 10,784 shares of the company’s stock worth $434,000 after buying an additional 50 shares during the period. TNB Financial raised its position in B&G Foods by 0.8% in the second quarter. TNB Financial now owns 6,550 shares of the company’s stock worth $233,000 after buying an additional 50 shares during the period. Pinebridge Investments L.P. raised its position in B&G Foods by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 8,757 shares of the company’s stock worth $312,000 after buying an additional 86 shares during the period. Finally, Tyers Asset Management LLC raised its position in B&G Foods by 3.7% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock worth $108,000 after buying an additional 96 shares during the period. 93.48% of the stock is currently owned by institutional investors and hedge funds.
B&G Foods Company Profile
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods 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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