BMO Capital Markets upgraded shares of B&G Foods, Inc. (NYSE:BGS) from a market perform rating to an outperform rating in a report released on Monday morning.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of B&G Foods from a hold rating to a buy rating and set a $45.00 target price on the stock in a research note on Thursday, June 1st. Royal Bank Of Canada reaffirmed a buy rating and set a $52.00 target price on shares of B&G Foods in a research note on Tuesday, May 23rd. Credit Suisse Group downgraded shares of B&G Foods from an outperform rating to a neutral rating and cut their target price for the stock from $47.00 to $42.00 in a research note on Thursday, May 18th. Berenberg Bank began coverage on shares of B&G Foods in a research note on Tuesday, May 16th. They set a hold rating and a $43.50 target price on the stock. Finally, BidaskClub raised shares of B&G Foods from a sell rating to a hold rating in a research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. B&G Foods currently has a consensus rating of Hold and a consensus target price of $42.81.
B&G Foods (NYSE:BGS) traded down 1.300% during trading on Monday, hitting $32.275. 139,711 shares of the stock were exchanged. The stock’s 50 day moving average price is $36.18 and its 200 day moving average price is $40.53. The stock has a market cap of $2.15 billion, a P/E ratio of 19.292 and a beta of 0.09. B&G Foods has a 12 month low of $32.23 and a 12 month high of $51.56.
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 analysts’ expectations of $376.45 million. During the same period in the previous year, the company earned $0.57 earnings per share. B&G Foods’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts forecast that B&G Foods will post $2.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be given a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date is Thursday, September 28th. B&G Foods’s dividend payout ratio is presently 122.37%.
Several large investors have recently made changes to their positions in BGS. Azimuth Capital Management LLC increased its stake in shares of B&G Foods by 4.3% in the first quarter. Azimuth Capital Management LLC now owns 96,082 shares of the company’s stock worth $3,867,000 after buying an additional 4,005 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of B&G Foods during the second quarter worth approximately $215,000. BNP Paribas Arbitrage SA increased its stake in shares of B&G Foods by 9.4% in the first quarter. BNP Paribas Arbitrage SA now owns 13,366 shares of the company’s stock worth $538,000 after buying an additional 1,143 shares in the last quarter. Torch Wealth Management LLC increased its stake in shares of B&G Foods by 0.6% in the first quarter. Torch Wealth Management LLC now owns 39,300 shares of the company’s stock worth $1,582,000 after buying an additional 225 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of B&G Foods by 15.6% in the first quarter. Principal Financial Group Inc. now owns 1,379,585 shares of the company’s stock worth $55,528,000 after buying an additional 186,531 shares in the last quarter. 88.67% of the stock is currently 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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