Shares of B&G Foods, Inc. (NYSE:BGS) have been given a consensus rating of "Hold" by the seven research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $27.50.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of B&G Foods from a "sell" rating to a "hold" rating and set a $30.00 price objective for the company in a research report on Tuesday, May 4th. Royal Bank of Canada lowered their target price on shares of B&G Foods from $32.00 to $29.00 in a research note on Wednesday, March 3rd. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $31.00 target price on shares of B&G Foods in a research note on Monday, March 29th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hanseatic Management Services Inc. grew its stake in shares of B&G Foods by 3.0% during the first quarter. Hanseatic Management Services Inc. now owns 12,155 shares of the company's stock worth $378,000 after purchasing an additional 350 shares in the last quarter. Advisor Partners LLC boosted its stake in B&G Foods by 3.8% in the first quarter. Advisor Partners LLC now owns 9,817 shares of the company's stock valued at $305,000 after acquiring an additional 362 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in B&G Foods by 1.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,431 shares of the company's stock valued at $821,000 after acquiring an additional 500 shares in the last quarter. First Hawaiian Bank boosted its stake in B&G Foods by 4.2% in the first quarter. First Hawaiian Bank now owns 14,050 shares of the company's stock valued at $436,000 after acquiring an additional 570 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in B&G Foods by 7.4% in the first quarter. Mutual of America Capital Management LLC now owns 8,637 shares of the company's stock valued at $268,000 after acquiring an additional 595 shares in the last quarter. 69.98% of the stock is owned by institutional investors and hedge funds.
B&G Foods stock opened at $33.13 on Friday. B&G Foods has a 12-month low of $23.68 and a 12-month high of $47.84. The firm has a market capitalization of $2.15 billion, a PE ratio of 16.40 and a beta of 0.41. The stock's 50-day moving average price is $30.53. The company has a current ratio of 3.51, a quick ratio of 1.12 and a debt-to-equity ratio of 2.77.
B&G Foods (NYSE:BGS) last released its quarterly earnings data on Monday, May 10th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate 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 firm had revenue of $505.10 million for the quarter, compared to analyst estimates of $523.88 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. B&G Foods's revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts anticipate that B&G Foods will post 2.16 earnings per share for the current fiscal year.
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 paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Tuesday, June 29th. B&G Foods's payout ratio is 84.07%.
B&G Foods Company Profile
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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