B&G Foods (NYSE:BGS) Price Target Lowered to $5.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered the price target for B&G Foods from $6.00 to $5.00, indicating a potential upside of 21.21% from the stock's previous close.
• Barclays and Piper Sandler have also revised their price objectives for B&G Foods, with Barclays setting a target of $4.00 and Piper Sandler reducing it to $5.00, both indicating a cautious outlook.
• B&G Foods reported earnings of $0.04 per share for the last quarter, missing analysts' expectations, with revenue down 4.5% year-over-year.

B&G Foods (NYSE:BGS - Get Free Report) had its price target decreased by research analysts at Royal Bank Of Canada from $6.00 to $5.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 21.21% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. Barclays decreased their price objective on shares of B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Piper Sandler decreased their price objective on shares of B&G Foods from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $6.10.

B&G Foods Stock Performance

Shares of B&G Foods stock opened at $4.13 on Tuesday. The company has a debt-to-equity ratio of 3.90, a current ratio of 3.32 and a quick ratio of 1.07. The firm has a market cap of $329.17 million, a P/E ratio of -1.55 and a beta of 0.48. The firm has a 50 day simple moving average of $4.30 and a 200 day simple moving average of $5.58. B&G Foods has a fifty-two week low of $3.97 and a fifty-two week high of $9.44.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The business had revenue of $424.43 million for the quarter, compared to the consensus estimate of $427.80 million. B&G Foods had a positive return on equity of 7.00% and a negative net margin of 11.16%. The company's quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. Sell-side analysts predict that B&G Foods will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its stake in B&G Foods by 3,217.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company's stock valued at $35,000 after acquiring an additional 4,891 shares during the last quarter. Signaturefd LLC lifted its stake in shares of B&G Foods by 48.7% during the 2nd quarter. Signaturefd LLC now owns 10,036 shares of the company's stock worth $42,000 after buying an additional 3,288 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of B&G Foods during the 2nd quarter worth about $43,000. Greenleaf Trust acquired a new stake in shares of B&G Foods during the 2nd quarter worth about $48,000. Finally, Comprehensive Money Management Services LLC acquired a new stake in shares of B&G Foods during the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 66.15% of the company's stock.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.