B&G Foods, Inc. (NYSE:BGS) has earned an average rating of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $28.06.
Several brokerages recently weighed in on BGS. ValuEngine raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. Zacks Investment Research raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, December 20th. BMO Capital Markets cut shares of B&G Foods from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $37.00 to $33.00 in a report on Thursday, January 10th. CL King began coverage on shares of B&G Foods in a report on Wednesday, December 12th. They issued a “buy” rating and a $37.50 target price on the stock. Finally, Barclays reaffirmed a “hold” rating and issued a $23.00 target price on shares of B&G Foods in a report on Thursday, February 28th.
Shares of BGS traded up $0.23 during mid-day trading on Wednesday, reaching $24.27. The stock had a trading volume of 22,556 shares, compared to its average volume of 903,337. The company has a current ratio of 2.27, a quick ratio of 0.71 and a debt-to-equity ratio of 1.82. B&G Foods has a 52-week low of $21.92 and a 52-week high of $33.50. The firm has a market capitalization of $1.57 billion, a P/E ratio of 13.16 and a beta of 0.41.
B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Tuesday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.16). The firm had revenue of $458.10 million during 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 company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. Equities research analysts predict that B&G Foods will post 1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.90 annualized dividend and a yield of 7.83%. B&G Foods’s dividend payout ratio (DPR) is 102.70%.
In related news, COO Kenneth G. Romanzi acquired 1,200 shares of the business’s stock in a transaction on 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 $29,568. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. ERTS Wealth Advisors LLC acquired a new stake in B&G Foods during the fourth quarter worth approximately $54,000. Flagship Harbor Advisors LLC raised its holdings in B&G Foods by 218.5% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,169 shares of the company’s stock worth $62,000 after purchasing an additional 1,488 shares in the last quarter. Covington Capital Management acquired a new stake in B&G Foods during the fourth quarter worth approximately $94,000. Hanson & Doremus Investment Management grew its position in shares of B&G Foods by 17.1% during the fourth quarter. Hanson & Doremus Investment Management now owns 3,387 shares of the company’s stock worth $98,000 after acquiring an additional 495 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of B&G Foods by 15.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,305 shares of the company’s stock worth $124,000 after acquiring an additional 573 shares during the last quarter. 96.56% of the stock is currently owned by institutional investors.
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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