Several other research analysts also recently weighed in on BGS. Zacks Investment Research downgraded B&G Foods from a strong-buy rating to a hold rating in a report on Thursday, August 11th. Royal Bank Of Canada boosted their price target on B&G Foods from $52.00 to $57.00 and gave the company an outperform rating in a report on Friday, September 23rd. Credit Suisse Group AG reiterated a hold rating and issued a $45.00 price target on shares of B&G Foods in a report on Thursday, July 28th. Finally, RBC Capital Markets reissued an outperform rating and set a $52.00 price objective (up from $49.00) on shares of B&G Foods in a research note on Sunday, July 31st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $46.78.
Shares of B&G Foods (NYSE:BGS) opened at 49.29 on Friday. The firm has a 50-day moving average price of $47.86 and a 200-day moving average price of $43.37. The firm has a market capitalization of $3.09 billion, a PE ratio of 31.08 and a beta of 0.41. B&G Foods has a 1-year low of $31.81 and a 1-year high of $52.84.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.11. The company earned $306.40 million during the quarter, compared to the consensus estimate of $316.56 million. B&G Foods had a return on equity of 22.59% and a net margin of 7.76%. B&G Foods’s revenue was up 58.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. On average, analysts forecast that B&G Foods will post $2.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.38%. B&G Foods’s dividend payout ratio is presently 107.01%.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of B&G Foods by 2.8% in the second quarter. Vanguard Group Inc. now owns 5,279,161 shares of the company’s stock valued at $254,456,000 after buying an additional 145,143 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of B&G Foods by 2.5% in the second quarter. BlackRock Fund Advisors now owns 3,979,794 shares of the company’s stock worth $191,826,000 after buying an additional 97,777 shares during the period. FMR LLC boosted its stake in shares of B&G Foods by 2.3% in the second quarter. FMR LLC now owns 3,212,201 shares of the company’s stock worth $154,828,000 after buying an additional 73,329 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of B&G Foods by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,502,565 shares of the company’s stock worth $52,304,000 after buying an additional 65,228 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of B&G Foods by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,490,304 shares of the company’s stock worth $71,828,000 after buying an additional 38,705 shares during the period. 76.92% of the stock is owned by institutional investors.
About B&G Foods
B&G Foods, Inc is a holding company. The Company manufactures, sells and distributes a diverse portfolio of shelf-stable and frozen food, and household products 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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