Wall Street analysts expect that B&G Foods, Inc. (NYSE:BGS) will post sales of $408.60 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for B&G Foods’ earnings, with estimates ranging from $407.60 million to $409.60 million. B&G Foods reported sales of $431.73 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.4%. The business is expected to issue its next earnings results on Thursday, May 2nd.
According to Zacks, analysts expect that B&G Foods will report full year sales of $1.65 billion for the current financial year. For the next financial year, analysts expect that the company will report sales of $1.67 billion, with estimates ranging from $1.66 billion to $1.67 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for B&G Foods.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.18). The company had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $463.44 million. B&G Foods had a net margin of 10.14% and a return on equity of 14.13%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share.
A number of equities analysts recently commented on BGS shares. Citigroup decreased their price target on B&G Foods from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, February 27th. ValuEngine upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Piper Jaffray Companies set a $26.00 target price on B&G Foods and gave the company a “hold” rating in a research note on Friday, March 1st. Barclays restated a “hold” rating and issued a $23.00 target price on shares of B&G Foods in a research note on Thursday, February 28th. Finally, Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.72.
Shares of B&G Foods stock traded up $0.02 during trading hours on Friday, hitting $24.39. 6,617 shares of the company’s stock traded hands, compared to its average volume of 705,072. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.27 and a quick ratio of 0.71. The company has a market capitalization of $1.59 billion, a PE ratio of 13.18 and a beta of 0.41. B&G Foods has a twelve month low of $21.92 and a twelve month high of $33.50.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.475 per share. The ex-dividend date is Thursday, March 28th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.79%. B&G Foods’s dividend payout ratio (DPR) is presently 102.70%.
In other B&G Foods news, COO Kenneth G. Romanzi purchased 1,200 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $24.64 per share, with a total value of $29,568.00. Following the completion of the acquisition, the chief operating officer now owns 1,200 shares in the company, valued at approximately $29,568. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BGS. Pennsylvania Trust Co bought a new stake in B&G Foods during the first quarter worth approximately $1,651,000. Truvestments Capital LLC bought a new position in shares of B&G Foods in the first quarter valued at $338,000. North Star Investment Management Corp. increased its holdings in shares of B&G Foods by 249.0% in the first quarter. North Star Investment Management Corp. now owns 46,304 shares of the company’s stock valued at $1,131,000 after buying an additional 33,036 shares in the last quarter. 6 Meridian increased its holdings in shares of B&G Foods by 4.4% in the first quarter. 6 Meridian now owns 23,334 shares of the company’s stock valued at $570,000 after buying an additional 992 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of B&G Foods by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 700,455 shares of the company’s stock valued at $20,250,000 after buying an additional 56,792 shares in the last quarter. 96.56% of the stock is currently owned by institutional investors.
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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