Shares of B&G Foods, Inc. (NYSE:BGS) have been given an average recommendation of “Hold” by the twelve brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $22.38.
BGS has been the topic of several research reports. Seaport Global Securities initiated coverage on shares of B&G Foods in a report on Tuesday, July 28th. They set a “neutral” rating on the stock. Barclays restated a “neutral” rating on shares of B&G Foods in a report on Thursday, May 7th. DA Davidson initiated coverage on shares of B&G Foods in a report on Thursday, June 11th. They issued a “neutral” rating on the stock. ValuEngine lowered shares of B&G Foods from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Finally, Jefferies Financial Group upped their target price on shares of B&G Foods from $19.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, July 27th.
Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in B&G Foods by 8.3% in the 4th quarter. Bank of America Corp DE now owns 490,061 shares of the company’s stock worth $8,787,000 after purchasing an additional 37,759 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in B&G Foods by 16.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 28,507 shares of the company’s stock worth $516,000 after purchasing an additional 4,032 shares in the last quarter. 6 Meridian grew its position in B&G Foods by 56.8% in the 1st quarter. 6 Meridian now owns 92,093 shares of the company’s stock worth $1,666,000 after purchasing an additional 33,351 shares in the last quarter. Nuveen Asset Management LLC grew its position in B&G Foods by 71.7% in the 1st quarter. Nuveen Asset Management LLC now owns 474,230 shares of the company’s stock worth $8,579,000 after purchasing an additional 198,041 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in B&G Foods in the 1st quarter worth about $300,000. 75.60% of the stock is owned by institutional investors and hedge funds.
B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.10. B&G Foods had a net margin of 6.22% and a return on equity of 15.65%. The firm had revenue of $512.54 million for the quarter, compared to analyst estimates of $509.57 million. Equities research analysts forecast that B&G Foods will post 2.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend is Tuesday, September 29th. B&G Foods’s payout ratio is 115.85%.
About B&G Foods
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.
Featured Story: Relative Strength Index
Receive News & Ratings for B&G Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods and related companies with MarketBeat.com's FREE daily email newsletter.