B&G Foods, Inc. (NYSE:BGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “B&G FOODS and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, shelf-stable foods across the United States, Canada and Puerto Rico. B&G Foods’ products include hot cereals, fruit spreads, canned meats and beans, spices, seasonings, marinades, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles, peppers and other specialty food products. B&G Foods competes in the retail grocery, food service, specialty, private label, club and mass merchandiser channels of distribution. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Brer Rabbit, Cream of Rice, Cream of Wheat, Emeril’s, Grandma’s Molasses, Joan of Arc, Las Palmas, Maple Grove Farms of Vermont, Ortega, Polaner, Red Devil, Regina, Sa-són, Trappey’s, Underwood, Vermont Maid and Wright’s. “

Other equities analysts have also issued research reports about the company. Credit Suisse Group set a $36.00 target price on B&G Foods and gave the company a “hold” rating in a research note on Saturday, August 5th. BMO Capital Markets cut their target price on B&G Foods from $45.00 to $39.00 and set a “market perform” rating on the stock in a research note on Friday, August 4th. BidaskClub upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $52.00 target price on shares of B&G Foods in a research note on Tuesday, July 18th. Finally, Buckingham Research cut their target price on B&G Foods from $43.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.50.

B&G Foods (NYSE:BGS) traded up 0.15% during mid-day trading on Thursday, hitting $32.55. 806,104 shares of the stock were exchanged. The stock has a 50 day moving average of $31.32 and a 200-day moving average of $36.54. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 21.36 and a beta of 0.11. B&G Foods has a 52-week low of $29.50 and a 52-week high of $49.15.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $368.10 million for the quarter, compared to analysts’ expectations of $376.45 million. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. Equities analysts predict that B&G Foods will post $2.08 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of B&G Foods by 0.3% during the second quarter. Alps Advisors Inc. now owns 11,511 shares of the company’s stock worth $410,000 after acquiring an additional 30 shares during the last quarter. TNB Financial grew its stake in shares of B&G Foods by 0.8% during the second quarter. TNB Financial now owns 6,550 shares of the company’s stock worth $233,000 after acquiring an additional 50 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of B&G Foods by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 8,757 shares of the company’s stock worth $312,000 after acquiring an additional 86 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of B&G Foods by 0.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 18,070 shares of the company’s stock worth $727,000 after acquiring an additional 100 shares during the last quarter. Finally, Telos Capital Management Inc. grew its stake in shares of B&G Foods by 0.9% during the second quarter. Telos Capital Management Inc. now owns 10,801 shares of the company’s stock worth $385,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 90.41% of the company’s stock.

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.

Analyst Recommendations for B&G Foods (NYSE:BGS)

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