Several other equities analysts have also weighed in on BGS. Zacks Investment Research lowered shares of B&G Foods from a hold rating to a strong sell rating in a research report on Tuesday, February 28th. Credit Suisse Group AG upgraded shares of B&G Foods from a neutral rating to an outperform rating and reduced their price objective for the company from $49.00 to $47.00 in a research report on Friday, March 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $49.60.
B&G Foods (NYSE:BGS) traded up 1.0918% on Thursday, reaching $42.5091. 584,852 shares of the company’s stock were exchanged. B&G Foods has a 1-year low of $32.02 and a 1-year high of $52.84. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 24.5717 and a beta of 0.05. The stock’s 50 day moving average price is $40.83 and its 200 day moving average price is $43.59.
B&G Foods (NYSE:BGS) last released its earnings results on Thursday, February 23rd. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.10. The company had revenue of $413.70 million for the quarter, compared to analyst estimates of $426 million. B&G Foods had a net margin of 8.09% and a return on equity of 21.79%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS. On average, analysts expect that B&G Foods will post $2.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Friday, March 31st will be given a dividend of $0.465 per share. The ex-dividend date is Wednesday, March 29th. This represents a $1.86 annualized dividend and a dividend yield of 4.42%. B&G Foods’s dividend payout ratio (DPR) is 107.51%.
Several institutional investors have recently bought and sold shares of the stock. Gilman Hill Asset Management LLC raised its position in B&G Foods by 4.8% in the third quarter. Gilman Hill Asset Management LLC now owns 132,659 shares of the company’s stock valued at $6,524,000 after buying an additional 6,089 shares during the period. Louisiana State Employees Retirement System raised its position in B&G Foods by 5.8% in the third quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the company’s stock valued at $1,441,000 after buying an additional 1,600 shares during the period. Great West Life Assurance Co. Can raised its position in B&G Foods by 11.3% in the third quarter. Great West Life Assurance Co. Can now owns 89,673 shares of the company’s stock valued at $4,409,000 after buying an additional 9,121 shares during the period. Texas Permanent School Fund raised its position in B&G Foods by 5.6% in the third quarter. Texas Permanent School Fund now owns 50,588 shares of the company’s stock valued at $2,488,000 after buying an additional 2,692 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in B&G Foods during the third quarter valued at $320,000. Institutional investors own 83.31% of the company’s stock.
About B&G Foods
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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