B&G Foods (NYSE:BGS) Rating Increased to Hold at Zacks Research

Key Points

• B&G Foods has been upgraded by Zacks Research from a "strong sell" rating to a "hold" rating, indicating a more positive outlook from analysts.
• Despite the upgrade, several other analysts have lowered their price targets for B&G Foods, with estimates ranging from $4.00 to $5.00, reflecting caution about the company's performance.
• B&G Foods reported a quarterly earnings miss, with an EPS of $0.04, falling short of the $0.07 analysts expected, and revenue also declined by 4.5% year-over-year.

B&G Foods (NYSE:BGS - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on BGS. Royal Bank Of Canada decreased their price objective on B&G Foods from $6.00 to $5.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Barclays reduced their price target on B&G Foods from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of B&G Foods in a research report on Saturday, September 27th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, B&G Foods has a consensus rating of "Reduce" and an average target price of $6.10.

B&G Foods Stock Down 1.3%

Shares of B&G Foods stock opened at $4.32 on Monday. The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89. The company has a market capitalization of $345.20 million, a P/E ratio of -1.52 and a beta of 0.44. B&G Foods has a 1 year low of $3.67 and a 1 year high of $8.90. The business has a 50-day moving average of $4.41 and a two-hundred day moving average of $4.88.

B&G Foods (NYSE:BGS - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The firm 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 7.16% and a negative net margin of 12.02%.The firm's quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.600 EPS. As a group, equities analysts predict that B&G Foods will post 0.7 EPS for the current year.

Institutional Trading of B&G Foods

A number of hedge funds have recently made changes to their positions in BGS. Caitong International Asset Management Co. Ltd lifted its holdings in B&G Foods by 3,217.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,043 shares of the company's stock worth $35,000 after purchasing an additional 4,891 shares during the last quarter. Signaturefd LLC lifted its holdings in B&G Foods by 930.2% during the 1st quarter. Signaturefd LLC now owns 6,748 shares of the company's stock worth $46,000 after purchasing an additional 6,093 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in B&G Foods by 502.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company's stock worth $31,000 after purchasing an additional 6,207 shares during the last quarter. CWM LLC lifted its holdings in B&G Foods by 61.2% during the 1st quarter. CWM LLC now owns 7,518 shares of the company's stock worth $52,000 after purchasing an additional 2,855 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in B&G Foods during the 2nd quarter worth approximately $35,000. 66.15% of the stock is owned by institutional investors and hedge funds.

About B&G Foods

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.

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