B&G Foods Inc. (BGS) Trading Down 1.1%
Shares of B&G Foods Inc. (NYSE:BGS) traded down 1.1% during trading on Monday . The stock traded as low as $47.82 and last traded at $47.94, with a volume of 163,566 shares trading hands. The stock had previously closed at $48.46.
Several equities analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a “buy” rating on shares of B&G Foods in a research note on Saturday, April 30th. Zacks Investment Research upgraded shares of B&G Foods from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a research note on Tuesday, May 3rd. DA Davidson cut shares of B&G Foods from a “buy” rating to a “neutral” rating and boosted their target price for the company from $40.00 to $45.00 in a research note on Friday, May 13th. Buckingham Research cut shares of B&G Foods from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 10th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $38.00 target price on shares of B&G Foods in a research note on Friday, April 29th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $41.13.
The company has a market capitalization of $3.00 billion and a P/E ratio of 33.46. The firm has a 50-day moving average price of $45.49 and a 200-day moving average price of $38.43.
B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, April 28th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.14. The business had revenue of $353 million for the quarter, compared to analysts’ expectations of $356.79 million. The business’s revenue was up 62.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. On average, equities analysts predict that B&G Foods Inc. will post $2.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, June 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.51%.
In other B&G Foods news, CFO Thomas P. Crimmins bought 3,500 shares of the stock in a transaction dated Tuesday, May 10th. The shares were acquired at an average cost of $43.61 per share, for a total transaction of $152,635.00. Following the completion of the transaction, the chief financial officer now owns 3,500 shares in the company, valued at approximately $152,635. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott E. Lerner sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $42.79, for a total transaction of $556,270.00. Following the transaction, the executive vice president now owns 51,867 shares in the company, valued at $2,219,388.93. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in BGS. Gabelli Funds LLC acquired a new position in shares of B&G Foods during the fourth quarter worth about $1,226,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of B&G Foods during the fourth quarter worth about $1,615,000. Systematic Financial Management LP raised its position in shares of B&G Foods by 87.0% in the fourth quarter. Systematic Financial Management LP now owns 71,495 shares of the company’s stock worth $2,503,000 after buying an additional 33,260 shares during the period. Azimuth Capital Management LLC raised its position in shares of B&G Foods by 0.4% in the fourth quarter. Azimuth Capital Management LLC now owns 100,265 shares of the company’s stock worth $3,511,000 after buying an additional 445 shares during the period. Finally, Suntrust Banks Inc. raised its position in shares of B&G Foods by 20.2% in the fourth quarter. Suntrust Banks Inc. now owns 108,047 shares of the company’s stock worth $3,783,000 after buying an additional 18,148 shares during the period.
B&G Foods, Inc (B&G Foods) is a holding company that manufactures, sells and distributes a range of shelf-stable food and household products across the United States, Canada and Puerto Rico. Its products include hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, 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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