BidaskClub upgraded shares of B&G Foods, Inc. (NYSE:BGS) from a sell rating to a hold rating in a report issued on Wednesday, July 19th.
Several other research analysts also recently weighed in on the company. Zacks Investment Research upgraded B&G Foods from a strong sell rating to a hold rating in a research note on Wednesday, April 26th. Credit Suisse Group cut B&G Foods from an outperform rating to a neutral rating and lowered their price target for the stock from $47.00 to $42.00 in a research report on Thursday, May 18th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $52.00 price target on shares of B&G Foods in a research report on Thursday, April 20th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. B&G Foods presently has an average rating of Hold and an average target price of $45.50.
B&G Foods (NYSE:BGS) traded down 1.50% on Wednesday, reaching $36.05. The company’s stock had a trading volume of 599,388 shares. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 21.55 and a beta of 0.09. B&G Foods has a 1-year low of $33.05 and a 1-year high of $52.84. The firm’s 50 day moving average price is $36.43 and its 200-day moving average price is $40.69.
B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, May 4th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. B&G Foods had a return on equity of 17.41% and a net margin of 7.49%. The firm had revenue of $417.90 million for the quarter, compared to the consensus estimate of $413.35 million. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Equities analysts forecast that B&G Foods will post $2.17 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be given a dividend of $0.465 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.86 dividend on an annualized basis and a yield of 5.16%. B&G Foods’s dividend payout ratio is currently 111.38%.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of B&G Foods by 134,853.6% in the first quarter. BlackRock Inc. now owns 7,858,346 shares of the company’s stock valued at $316,296,000 after buying an additional 7,852,523 shares during the period. Norges Bank bought a new position in shares of B&G Foods during the fourth quarter valued at about $29,891,000. FMR LLC boosted its position in shares of B&G Foods by 12.9% in the first quarter. FMR LLC now owns 5,854,515 shares of the company’s stock valued at $235,645,000 after buying an additional 667,093 shares during the period. Foresters Investment Management Company Inc. boosted its position in shares of B&G Foods by 102.9% in the first quarter. Foresters Investment Management Company Inc. now owns 784,300 shares of the company’s stock valued at $31,568,000 after buying an additional 397,850 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of B&G Foods by 4,241.7% in the second quarter. Russell Investments Group Ltd. now owns 336,309 shares of the company’s stock valued at $11,973,000 after buying an additional 328,563 shares during the period. 88.23% of the stock is owned by institutional investors.
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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