B&G Foods, Inc. (NYSE:BGS) Receives Average Rating of “Hold” from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.94.

A number of analysts have issued reports on BGS shares. Barclays reaffirmed a “hold” rating and issued a $22.00 target price on shares of B&G Foods in a research note on Monday, July 15th. ValuEngine raised B&G Foods from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Credit Suisse Group cut their target price on B&G Foods from $19.00 to $17.00 and set an “underperform” rating for the company in a research note on Friday, August 30th.

Shares of BGS traded down $0.10 during midday trading on Friday, reaching $15.94. The company had a trading volume of 873,819 shares, compared to its average volume of 1,414,595. B&G Foods has a 1-year low of $15.72 and a 1-year high of $31.60. The stock has a market cap of $1.05 billion, a PE ratio of 8.62 and a beta of 0.46. The firm has a 50 day simple moving average of $18.13 and a 200-day simple moving average of $20.47. The company has a quick ratio of 0.97, a current ratio of 3.02 and a debt-to-equity ratio of 2.12.

B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $371.20 million during the quarter, compared to the consensus estimate of $370.24 million. During the same period last year, the company earned $0.38 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that B&G Foods will post 1.75 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 11.92%. The ex-dividend date of this dividend is Friday, September 27th. B&G Foods’s dividend payout ratio is presently 102.70%.

In other B&G Foods news, Director Deann L. Brunts purchased 2,483 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $18.98 per share, for a total transaction of $47,127.34. Following the acquisition, the director now owns 22,272 shares in the company, valued at approximately $422,722.56. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of B&G Foods by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,697,600 shares of the company’s stock worth $160,109,000 after purchasing an additional 331,944 shares during the period. Assetmark Inc. grew its holdings in shares of B&G Foods by 6,212,280.0% during the 2nd quarter. Assetmark Inc. now owns 1,553,095 shares of the company’s stock worth $32,304,000 after purchasing an additional 1,553,070 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of B&G Foods by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,478,508 shares of the company’s stock worth $30,754,000 after purchasing an additional 73,448 shares during the period. Northern Trust Corp grew its holdings in shares of B&G Foods by 1.5% during the 2nd quarter. Northern Trust Corp now owns 866,953 shares of the company’s stock worth $18,033,000 after purchasing an additional 12,539 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of B&G Foods by 3.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 813,965 shares of the company’s stock worth $16,931,000 after purchasing an additional 25,827 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

B&G Foods Company Profile

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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Analyst Recommendations for B&G Foods (NYSE:BGS)

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