B&G Foods, Inc. (BGS) Receives Average Rating of “Hold” from Analysts
Shares of B&G Foods, Inc. (NYSE:BGS) have been assigned an average rating of “Hold” from the eleven analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $43.36.
Several brokerages have recently weighed in on BGS. Zacks Investment Research upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Thursday, June 1st. Berenberg Bank assumed coverage on shares of B&G Foods in a report on Tuesday, May 16th. They set a “hold” rating and a $43.50 price target for the company. BMO Capital Markets reissued a “hold” rating and set a $45.00 price target on shares of B&G Foods in a report on Monday, May 15th. Credit Suisse Group cut shares of B&G Foods from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $47.00 to $42.00 in a report on Thursday, May 18th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $52.00 price target on shares of B&G Foods in a report on Tuesday, May 23rd.
B&G Foods (NYSE:BGS) traded down 1.10% during trading on Tuesday, hitting $31.40. The company’s stock had a trading volume of 703,886 shares. The firm has a market cap of $2.09 billion, a PE ratio of 20.60 and a beta of 0.11. The company has a 50-day moving average of $32.72 and a 200 day moving average of $37.82. B&G Foods has a one year low of $30.25 and a one year high of $50.81.
B&G Foods (NYSE:BGS) last announced its earnings results 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 business had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. During the same quarter last year, the company posted $0.57 EPS. B&G Foods’s quarterly revenue was up 20.1% on a year-over-year basis. On average, equities analysts forecast that B&G Foods will post $2.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.465 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.92%. B&G Foods’s dividend payout ratio (DPR) is 122.37%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new position in shares of B&G Foods during the 2nd quarter worth approximately $25,526,000. Public Employees Retirement System of Ohio boosted its position in B&G Foods by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 25,392 shares of the company’s stock worth $904,000 after acquiring an additional 222 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in B&G Foods during the second quarter worth approximately $512,000. Americafirst Capital Management LLC acquired a new stake in B&G Foods during the second quarter worth approximately $1,228,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in B&G Foods by 5.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,516 shares of the company’s stock worth $517,000 after acquiring an additional 715 shares during the last quarter. 94.09% of the stock is owned by institutional investors and hedge funds.
About B&G Foods
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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