Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average rating of “Hold” from the ten analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.19.
BGS has been the subject of a number of research reports. Evercore ISI initiated coverage on B&G Foods in a research note on Tuesday, June 11th. They set an “in-line” rating and a $25.00 price target for the company. ValuEngine lowered B&G Foods from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 22nd. Barclays restated a “hold” rating and set a $22.00 price objective on shares of B&G Foods in a research report on Monday, July 15th. Finally, Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st.
Hedge funds have recently modified their holdings of the business. Assetmark Inc. raised its holdings in shares of B&G Foods by 6,212,280.0% in the second quarter. Assetmark Inc. now owns 1,553,095 shares of the company’s stock worth $32,304,000 after buying an additional 1,553,070 shares during the period. Ronna Sue Cohen raised its holdings in shares of B&G Foods by 2,375.1% in the first quarter. Ronna Sue Cohen now owns 678,277 shares of the company’s stock worth $678,000 after buying an additional 650,873 shares during the period. Norges Bank purchased a new stake in shares of B&G Foods in the fourth quarter worth approximately $12,813,000. Vanguard Group Inc. raised its holdings in shares of B&G Foods by 4.5% in the second quarter. Vanguard Group Inc. now owns 7,697,600 shares of the company’s stock worth $160,109,000 after buying an additional 331,944 shares during the period. Finally, Morgan Stanley raised its holdings in shares of B&G Foods by 57.9% in the second quarter. Morgan Stanley now owns 754,141 shares of the company’s stock worth $15,685,000 after buying an additional 276,626 shares during the period. Institutional investors and hedge funds own 96.56% of the company’s stock.
B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. B&G Foods had a return on equity of 13.04% and a net margin of 10.75%. The company had revenue of $371.20 million during the quarter, compared to analyst estimates of $370.24 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. On average, equities analysts predict that B&G Foods will post 1.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a dividend of $0.475 per share. The ex-dividend date is Friday, September 27th. This represents a $1.90 dividend on an annualized basis and a yield of 9.87%. B&G Foods’s dividend payout ratio (DPR) is presently 102.70%.
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.
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