B&G Foods Inc. (NYSE:BGS) has been assigned a $55.00 price objective by investment analysts at Credit Suisse Group AG in a research note issued on Friday. The brokerage currently has a a “hold” rating on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 13.80% from the company’s current price.
BGS has been the subject of several other research reports. RBC Capital Markets reissued an “outperform” rating and issued a $52.00 price target (up previously from $49.00) on shares of B&G Foods in a research note on Sunday, July 31st. Zacks Investment Research raised shares of B&G Foods from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, August 1st. DA Davidson cut shares of B&G Foods from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research report on Tuesday, August 9th. Finally, Royal Bank Of Canada increased their price objective on shares of B&G Foods from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $47.89.
B&G Foods (NYSE:BGS) opened at 48.33 on Friday. B&G Foods has a 52 week low of $31.81 and a 52 week high of $52.84. The company has a market cap of $3.03 billion, a P/E ratio of 30.47 and a beta of 0.32. The company has a 50-day moving average of $47.94 and a 200-day moving average of $44.31.
B&G Foods (NYSE:BGS) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.57 EPS for the quarter, beating the Zacks’ 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 net margin of 7.76% and a return on equity of 22.59%. B&G Foods’s quarterly revenue was up 58.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, equities research analysts predict that B&G Foods will post $2.20 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.42 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.68 annualized dividend and a yield of 3.48%. B&G Foods’s dividend payout ratio is presently 107.01%.
Institutional investors have recently modified their holdings of the stock. BlackRock Institutional Trust Company N.A. boosted its position 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 valued at $52,304,000 after buying an additional 65,228 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of B&G Foods by 4.5% in the second quarter. Principal Financial Group Inc. now owns 904,050 shares of the company’s stock worth $43,576,000 after buying an additional 39,321 shares during the last quarter. Barclays PLC raised its stake in shares of B&G Foods by 39,789.4% in the first quarter. Barclays PLC now owns 18,748 shares of the company’s stock worth $638,000 after buying an additional 18,701 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of B&G Foods by 6.7% in the first quarter. Teachers Advisors Inc. now owns 87,652 shares of the company’s stock worth $3,051,000 after buying an additional 5,491 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of B&G Foods by 412.4% in the first quarter. UBS Asset Management Americas Inc. now owns 238,738 shares of the company’s stock worth $8,311,000 after buying an additional 192,146 shares during the last quarter. 76.93% of the stock is owned by institutional investors.
B&G Foods Company Profile
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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