B&G Foods, Inc. (NYSE:BGS) has received an average rating of “Buy” from the ten brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $40.38.
Several research firms have recently commented on BGS. BidaskClub cut B&G Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BMO Capital Markets upgraded B&G Foods from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th. Buckingham Research cut their price target on B&G Foods from $43.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Zacks Investment Research cut B&G Foods from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. Finally, Berenberg Bank upgraded B&G Foods from a “hold” rating to a “buy” rating and cut their price objective for the stock from $43.50 to $40.00 in a research report on Thursday, November 16th.
A number of large investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC purchased a new position in B&G Foods in the third quarter worth $490,000. Cetera Advisor Networks LLC increased its position in shares of B&G Foods by 29.4% in the third quarter. Cetera Advisor Networks LLC now owns 10,137 shares of the company’s stock valued at $320,000 after buying an additional 2,303 shares in the last quarter. Eii Capital Management Inc. increased its position in shares of B&G Foods by 24.2% in the third quarter. Eii Capital Management Inc. now owns 59,695 shares of the company’s stock valued at $1,901,000 after buying an additional 11,625 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of B&G Foods by 49.0% in the third quarter. Neuberger Berman Group LLC now owns 178,215 shares of the company’s stock valued at $5,676,000 after buying an additional 58,618 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of B&G Foods by 7.8% in the third quarter. California Public Employees Retirement System now owns 75,924 shares of the company’s stock valued at $2,418,000 after buying an additional 5,524 shares in the last quarter. Hedge funds and other institutional investors own 89.51% of the company’s stock.
B&G Foods (NYSE:BGS) traded up $0.03 during trading on Friday, hitting $36.25. The stock had a trading volume of 265,736 shares, compared to its average volume of 1,170,000. B&G Foods has a twelve month low of $29.50 and a twelve month high of $47.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 3.24 and a quick ratio of 1.06. The stock has a market capitalization of $2,410.00, a PE ratio of 19.81 and a beta of 0.11.
B&G Foods (NYSE:BGS) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.08. B&G Foods had a return on equity of 15.50% and a net margin of 6.29%. The business had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $391.31 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The company’s quarterly revenue was up 28.3% compared to the same quarter last year. sell-side analysts expect that B&G Foods will post 2.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be given a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend is Thursday, December 28th. B&G Foods’s payout ratio is 122.37%.
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.
Receive News & Ratings for B&G Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.