Analysts expect that B&G Foods, Inc. (NYSE:BGS) will announce sales of $467.80 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for B&G Foods’ earnings, with estimates ranging from $464.50 million to $471.10 million. B&G Foods posted sales of $473.68 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.2%. The company is scheduled to issue its next earnings results after the market closes on Tuesday, February 26th.
On average, analysts expect that B&G Foods will report full-year sales of $1.71 billion for the current fiscal year. For the next financial year, analysts forecast that the company will report sales of $1.65 billion, with estimates ranging from $1.65 billion to $1.66 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow B&G Foods.
BGS has been the subject of a number of research reports. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. ValuEngine upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, December 12th. BMO Capital Markets downgraded B&G Foods from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $37.00 to $33.00 in a research note on Thursday, January 10th. Finally, CL King initiated coverage on B&G Foods in a research note on Wednesday, December 12th. They issued a “buy” rating and a $37.50 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. B&G Foods presently has a consensus rating of “Hold” and a consensus target price of $34.15.
BGS stock remained flat at $$25.92 during midday trading on Monday. The company’s stock had a trading volume of 334,700 shares, compared to its average volume of 718,164. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.79 and a current ratio of 1.61. B&G Foods has a 12 month low of $22.00 and a 12 month high of $33.50. The firm has a market capitalization of $1.71 billion, a P/E ratio of 12.23 and a beta of 0.38.
In other B&G Foods news, Director Cheryl M. Palmer sold 12,000 shares of B&G Foods stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $29.52, for a total value of $354,240.00. Following the completion of the transaction, the director now directly owns 12,839 shares in the company, valued at $379,007.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BGS. Oregon Public Employees Retirement Fund acquired a new position in shares of B&G Foods during the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC boosted its position in shares of 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 buying an additional 1,488 shares during the period. Hanson & Doremus Investment Management boosted 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 buying an additional 495 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 573 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of B&G Foods during the second quarter worth approximately $185,000. Institutional investors and hedge funds own 97.58% of the company’s stock.
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, 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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