Shares of B&G Foods, Inc. (NYSE:BGS) have received a consensus rating of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $29.00.
Several analysts recently commented on the company. Zacks Investment Research cut B&G Foods from a “strong-buy” rating to a “hold” rating and set a $39.00 price target for the company. in a research report on Tuesday, February 2nd. Credit Suisse Group cut B&G Foods from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $28.00 to $25.00 in a research report on Tuesday, January 5th. Stephens began coverage on B&G Foods in a report on Tuesday, January 19th. They issued an “equal weight” rating and a $27.00 target price for the company. Piper Sandler restated a “neutral” rating and issued a $31.00 target price on shares of B&G Foods in a report on Monday, March 29th. Finally, Royal Bank of Canada dropped their target price on B&G Foods from $32.00 to $29.00 in a report on Wednesday, March 3rd.
Several institutional investors have recently made changes to their positions in the company. Comerica Bank lifted its stake in shares of B&G Foods by 0.5% in the 4th quarter. Comerica Bank now owns 68,072 shares of the company’s stock valued at $2,046,000 after purchasing an additional 335 shares during the last quarter. V Wealth Advisors LLC lifted its stake in shares of B&G Foods by 2.0% in the 4th quarter. V Wealth Advisors LLC now owns 20,051 shares of the company’s stock valued at $556,000 after purchasing an additional 401 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of B&G Foods by 1.4% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 36,195 shares of the company’s stock valued at $1,004,000 after purchasing an additional 510 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of B&G Foods by 2.7% in the 4th quarter. Sigma Planning Corp now owns 22,756 shares of the company’s stock valued at $631,000 after purchasing an additional 600 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of B&G Foods by 11.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,865 shares of the company’s stock valued at $245,000 after purchasing an additional 939 shares during the last quarter. 72.89% of the stock is currently owned by institutional investors and hedge funds.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Monday, March 1st. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.09). B&G Foods had a return on equity of 17.25% and a net margin of 6.75%. The firm had revenue of $510.24 million for the quarter, compared to analysts’ expectations of $533.46 million. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that B&G Foods will post 2.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Wednesday, March 31st will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 6.38%. The ex-dividend date is Tuesday, March 30th. B&G Foods’s dividend payout ratio (DPR) is presently 115.85%.
About B&G Foods
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, oatmeal and other 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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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