B&G Foods Inc. (NYSE:BGS)‘s stock had its “neutral” rating reissued by analysts at DA Davidson in a research note issued on Friday. They currently have a $52.00 price target on the stock. DA Davidson’s price objective would indicate a potential upside of 4.73% from the company’s current price.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered B&G Foods from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 11th. RBC Capital Markets reissued an “outperform” rating and set a $52.00 price target (up previously from $49.00) on shares of B&G Foods in a report on Sunday, July 31st. Credit Suisse Group AG reissued a “hold” rating and set a $45.00 price target on shares of B&G Foods in a report on Thursday, July 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $49.00 price target (down previously from $52.00) on shares of B&G Foods in a report on Friday, July 29th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. B&G Foods has a consensus rating of “Hold” and a consensus target price of $46.78.
B&G Foods (NYSE:BGS) opened at 49.65 on Friday. The stock’s 50 day moving average price is $47.90 and its 200 day moving average price is $43.26. B&G Foods has a 12 month low of $31.81 and a 12 month high of $52.84. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 31.31 and a beta of 0.41.
B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.11. B&G Foods had a return on equity of 22.59% and a net margin of 7.76%. The company earned $306.40 million during the quarter, compared to analyst estimates of $316.56 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. B&G Foods’s revenue was up 58.3% compared to the same quarter last year. Equities research analysts anticipate that B&G Foods will post $2.20 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a $0.42 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.38%. B&G Foods’s payout ratio is 107.01%.
Several institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its stake in B&G Foods by 1.9% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock worth $107,000 after buying an additional 42 shares in the last quarter. BlackRock Inc. increased its stake in B&G Foods by 133.8% in the first quarter. BlackRock Inc. now owns 4,096 shares of the company’s stock worth $143,000 after buying an additional 2,344 shares in the last quarter. IMS Capital Management purchased a new stake in B&G Foods during the second quarter worth approximately $207,000. Scotia Capital Inc. purchased a new stake in B&G Foods during the second quarter worth approximately $207,000. Finally, Tower Research Capital LLC TRC increased its stake in B&G Foods by 4,234.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,334 shares of the company’s stock worth $209,000 after buying an additional 4,234 shares in the last quarter. Institutional investors and hedge funds own 76.92% of the company’s stock.
About B&G Foods
B&G Foods, Inc is a holding company. The Company manufactures, sells and distributes a diverse portfolio of shelf-stable and frozen food, and household products 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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