B&G Foods, Inc. (NYSE:BGS) – Analysts at Piper Sandler upped their Q3 2021 earnings estimates for B&G Foods in a report issued on Tuesday, June 8th. Piper Sandler analyst M. Lavery now forecasts that the company will post earnings per share of $0.72 for the quarter, up from their prior estimate of $0.69. Piper Sandler has a “Neutral” rating and a $31.00 price target on the stock. Piper Sandler also issued estimates for B&G Foods’ Q4 2021 earnings at $0.44 EPS, Q3 2022 earnings at $0.75 EPS and Q4 2022 earnings at $0.50 EPS.
Several other research firms also recently weighed in on BGS. Zacks Investment Research upgraded shares of B&G Foods from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a research note on Tuesday, May 4th. Royal Bank of Canada reduced their target price on shares of B&G Foods from $32.00 to $29.00 in a research note on Wednesday, March 3rd. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $27.50.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Monday, May 10th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). B&G Foods had a return on equity of 18.10% and a net margin of 6.46%. The company had revenue of $505.10 million for the quarter, compared to analysts’ expectations of $523.88 million. During the same quarter last year, the business posted $0.46 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vantage Consulting Group Inc bought a new stake in B&G Foods during the 4th quarter valued at $27,000. WD Rutherford LLC bought a new stake in B&G Foods during the 4th quarter valued at $28,000. Eudaimonia Partners LLC bought a new stake in B&G Foods during the 4th quarter valued at $36,000. Lazard Asset Management LLC bought a new stake in B&G Foods during the 4th quarter valued at $37,000. Finally, Samalin Investment Counsel LLC bought a new stake in B&G Foods during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 69.98% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Wednesday, June 30th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.80%. B&G Foods’s payout ratio is 84.07%.
About B&G Foods
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, oatmeal and other 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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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