B&G Foods, Inc. (NYSE:BGS) – Research analysts at William Blair issued their Q3 2018 earnings per share (EPS) estimates for B&G Foods in a report issued on Thursday, Zacks Investment Research reports. William Blair analyst J. Andersen forecasts that the company will post earnings of $0.65 per share for the quarter. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for B&G Foods’ Q4 2018 earnings at $0.46 EPS.
B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. The firm had revenue of $473.70 million during the quarter, compared to analysts’ expectations of $482.51 million. B&G Foods had a return on equity of 17.29% and a net margin of 13.04%. B&G Foods’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share.
Several other research firms also recently weighed in on BGS. Buckingham Research dropped their price target on B&G Foods from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Stephens reissued a “buy” rating and set a $35.00 price target on shares of B&G Foods in a research report on Thursday, March 1st. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $37.00 price objective (down previously from $39.00) on shares of B&G Foods in a research report on Thursday, March 1st. Finally, Credit Suisse Group downgraded B&G Foods from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $34.00 to $21.00 in a research report on Wednesday, March 7th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.44.
B&G Foods (NYSE BGS) traded up $1.05 during trading on Monday, reaching $27.85. The company’s stock had a trading volume of 1,626,913 shares, compared to its average volume of 1,360,000. The company has a quick ratio of 1.91, a current ratio of 4.40 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $1,850.00, a P/E ratio of 21.76 and a beta of 0.19. B&G Foods has a one year low of $25.95 and a one year high of $43.10.
B&G Foods declared that its board has approved a stock buyback program on Tuesday, March 13th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend is Wednesday, March 28th. B&G Foods’s dividend payout ratio is presently 145.31%.
In other B&G Foods news, EVP Vanessa E. Maskal sold 8,475 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $30.00, for a total transaction of $254,250.00. Following the transaction, the executive vice president now owns 102,319 shares in the company, valued at $3,069,570. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert C. Cantwell acquired 10,000 shares of B&G Foods stock in a transaction on Friday, March 9th. The shares were bought at an average price of $26.42 per share, for a total transaction of $264,200.00. Following the purchase, the chief executive officer now owns 206,239 shares of the company’s stock, valued at $5,448,834.38. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 11,075 shares of company stock worth $293,701. 2.10% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its stake in shares of B&G Foods by 14.3% in the third quarter. Principal Financial Group Inc. now owns 4,937,045 shares of the company’s stock worth $157,244,000 after acquiring an additional 617,424 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of B&G Foods by 1,503.5% in the third quarter. Point72 Asset Management L.P. now owns 588,485 shares of the company’s stock worth $18,743,000 after acquiring an additional 551,785 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of B&G Foods by 174,295.7% in the fourth quarter. Glenmede Trust Co. NA now owns 449,941 shares of the company’s stock worth $15,813,000 after acquiring an additional 449,683 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of B&G Foods in the fourth quarter worth about $15,266,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of B&G Foods by 38.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,337,773 shares of the company’s stock worth $47,023,000 after acquiring an additional 372,999 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.
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B&G Foods Company Profile
B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods 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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