B&G Foods (NYSE:BGS) has received a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $34.38.
A number of research analysts have commented on BGS shares. Buckingham Research dropped their price objective on shares of B&G Foods from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Stephens restated a “buy” rating and issued a $35.00 price objective on shares of B&G Foods in a research note on Thursday, March 1st. Zacks Investment Research lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. BMO Capital Markets restated an “outperform” rating and issued a $37.00 price objective (down from $39.00) on shares of B&G Foods in a research note on Thursday, March 1st. Finally, ValuEngine lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd.
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NYSE:BGS traded down $0.90 during midday trading on Friday, hitting $26.80. 1,908,273 shares of the company were exchanged, compared to its average volume of 1,309,388. B&G Foods has a fifty-two week low of $22.00 and a fifty-two week high of $41.20. The company has a debt-to-equity ratio of 2.40, a current ratio of 3.78 and a quick ratio of 1.54. The firm has a market capitalization of $1.78 billion, a P/E ratio of 12.64 and a beta of 0.27.
B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. B&G Foods had a net margin of 12.20% and a return on equity of 16.61%. The firm had revenue of $431.70 million for the quarter, compared to analyst estimates of $432.22 million. During the same period last year, the business earned $0.58 EPS. B&G Foods’s revenue for the quarter was up 3.3% compared to the same quarter last year. sell-side analysts anticipate that B&G Foods will post 2.13 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Thursday, March 29th were issued a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend was Wednesday, March 28th. B&G Foods’s payout ratio is 87.74%.
B&G Foods announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 13th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Vanessa E. Maskal sold 8,475 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $30.00, for a total transaction of $254,250.00. Following the sale, the executive vice president now owns 102,319 shares of the company’s stock, valued at $3,069,570. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Deann L. Brunts acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The shares were bought at an average cost of $26.27 per share, for a total transaction of $52,540.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 13,075 shares of company stock worth $346,241. Insiders own 2.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB raised its position in B&G Foods by 45.4% during the first quarter. Xact Kapitalforvaltning AB now owns 9,288 shares of the company’s stock worth $220,000 after acquiring an additional 2,900 shares during the last quarter. Royal Bank of Canada raised its position in B&G Foods by 6.8% during the first quarter. Royal Bank of Canada now owns 3,973,141 shares of the company’s stock worth $94,162,000 after acquiring an additional 253,495 shares during the last quarter. McKinley Carter Wealth Services Inc. acquired a new position in B&G Foods during the first quarter worth about $110,000. Legal & General Group Plc raised its position in shares of B&G Foods by 3.2% in the first quarter. Legal & General Group Plc now owns 141,697 shares of the company’s stock valued at $3,385,000 after buying an additional 4,404 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of B&G Foods by 16.9% in the first quarter. Guggenheim Capital LLC now owns 228,423 shares of the company’s stock valued at $5,414,000 after buying an additional 32,998 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.
B&G Foods Company Profile
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.