BMO Capital Markets reissued their hold rating on shares of B&G Foods, Inc. (NYSE:BGS) in a research note issued to investors on Friday, May 5th. BMO Capital Markets currently has a $45.00 price objective on the stock.
Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of B&G Foods from a hold rating to a sell rating in a research report on Tuesday, May 2nd. Royal Bank of Canada reaffirmed a buy rating and issued a $52.00 price objective on shares of B&G Foods in a research note on Thursday, April 20th. Finally, Credit Suisse Group AG raised shares of B&G Foods from a neutral rating to an outperform rating and decreased their price objective for the stock from $49.00 to $47.00 in a research note on Friday, March 17th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $47.36.
B&G Foods (NYSE:BGS) traded up 0.63% during trading on Friday, hitting $39.75. The stock had a trading volume of 415,880 shares. B&G Foods has a 12-month low of $38.60 and a 12-month high of $52.84. The firm has a market cap of $2.64 billion, a P/E ratio of 23.76 and a beta of 0.05. The stock’s 50 day moving average price is $40.59 and its 200 day moving average price is $42.55.
B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The firm had revenue of $417.90 million for the quarter, compared to analyst estimates of $413.35 million. B&G Foods had a net margin of 8.09% and a return on equity of 21.79%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, analysts anticipate that B&G Foods will post $2.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Friday, March 31st were given a dividend of $0.465 per share. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $1.86 annualized dividend and a dividend yield of 4.68%. B&G Foods’s dividend payout ratio (DPR) is currently 107.51%.
Several hedge funds have recently modified their holdings of BGS. Tyers Asset Management LLC raised its stake in shares of B&G Foods by 3.7% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock valued at $108,000 after buying an additional 96 shares during the period. Ffcm LLC acquired a new stake in shares of B&G Foods during the fourth quarter valued at $115,000. North Star Investment Management Corp. raised its stake in shares of B&G Foods by 873.0% in the first quarter. North Star Investment Management Corp. now owns 2,919 shares of the company’s stock valued at $117,000 after buying an additional 2,619 shares during the period. LS Investment Advisors LLC raised its position in B&G Foods by 10.9% in the third quarter. LS Investment Advisors LLC now owns 2,454 shares of the company’s stock worth $121,000 after buying an additional 242 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in B&G Foods during the fourth quarter worth approximately $131,000. Institutional investors and hedge funds own 83.31% of the company’s stock.
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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