B&G Foods, Inc. (NYSE:BGS) has earned an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $28.06.
BGS has been the topic of several research analyst reports. Zacks Investment Research cut B&G Foods from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. ValuEngine raised B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Buckingham Research cut B&G Foods from a “buy” rating to a “neutral” rating and dropped their price target for the company from $36.00 to $23.00 in a research report on Wednesday, February 27th. Citigroup dropped their price target on B&G Foods from $33.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, February 27th. Finally, Barclays reaffirmed a “hold” rating and set a $23.00 price target on shares of B&G Foods in a research report on Thursday, February 28th.
In other news, COO Kenneth G. Romanzi purchased 1,200 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average price of $24.64 per share, with a total value of $29,568.00. Following the transaction, the chief operating officer now directly owns 1,200 shares of the company’s stock, valued at $29,568. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in BGS. Oregon Public Employees Retirement Fund bought a new stake in shares of B&G Foods during the 4th quarter valued at $25,000. ERTS Wealth Advisors LLC bought a new stake in shares of B&G Foods during the 4th quarter valued at $54,000. Flagship Harbor Advisors LLC raised its stake in shares of B&G Foods by 218.5% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,169 shares of the company’s stock valued at $62,000 after purchasing an additional 1,488 shares during the period. Covington Capital Management bought a new stake in shares of B&G Foods during the 4th quarter valued at $94,000. Finally, Hanson & Doremus Investment Management raised its stake in shares of B&G Foods by 17.1% during the 4th quarter. Hanson & Doremus Investment Management now owns 3,387 shares of the company’s stock valued at $98,000 after purchasing an additional 495 shares during the period. Institutional investors own 96.56% of the company’s stock.
B&G Foods stock traded up $0.35 during trading on Wednesday, hitting $24.27. 21,000 shares of the company were exchanged, compared to its average volume of 731,449. 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 company has a market capitalization of $1.56 billion, a P/E ratio of 13.17 and a beta of 0.41.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.18). B&G Foods had a return on equity of 14.13% and a net margin of 10.14%. The business had revenue of $458.10 million during the quarter, compared to analysts’ expectations of $463.44 million. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts predict that B&G Foods will post 1.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.83%. B&G Foods’s dividend payout ratio is presently 102.70%.
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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