B&G Foods Inc. (BGS) Shares Down 4.1%
B&G Foods Inc. (NYSE:BGS) was down 4.1% during trading on Tuesday . The company traded as low as $48.43 and last traded at $48.97, with a volume of 2,561,961 shares trading hands. The stock had previously closed at $51.09.
A number of equities research analysts have commented on BGS shares. DA Davidson upgraded B&G Foods from a “neutral” rating to a “buy” rating and lifted their target price for the company from $47.00 to $52.00 in a research report on Friday, July 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $49.00 target price (down previously from $52.00) on shares of B&G Foods in a research report on Friday, July 29th. Credit Suisse Group AG restated a “hold” rating and issued a $38.00 target price on shares of B&G Foods in a research report on Friday, April 29th. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, August 1st. Finally, RBC Capital Markets restated an “outperform” rating and issued a $52.00 target price (up previously from $49.00) on shares of B&G Foods in a research report on Sunday, July 31st. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. B&G Foods has a consensus rating of “Hold” and an average price target of $45.33.
The company has a market capitalization of $3.06 billion and a PE ratio of 30.79. The company has a 50-day moving average of $48.02 and a 200-day moving average of $40.50.
B&G Foods (NYSE:BGS) last announced its earnings results on Thursday, July 28th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $306.40 million for the quarter, compared to analyst estimates of $316.56 million. B&G Foods’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. Equities analysts anticipate that B&G Foods Inc. will post $2.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Wednesday, September 28th.
In other B&G Foods news, EVP Scott E. Lerner sold 13,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 51,867 shares in the company, valued at approximately $2,219,388.93. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Several large investors have bought and sold shares of BGS. State of Tennessee Treasury Department acquired a new stake in B&G Foods during the fourth quarter valued at about $1,583,000. Systematic Financial Management LP boosted its stake in B&G Foods by 87.0% in the fourth quarter. Systematic Financial Management LP now owns 71,495 shares of the company’s stock valued at $2,503,000 after buying an additional 33,260 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in B&G Foods by 4.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 1,892,215 shares of the company’s stock valued at $66,265,000 after buying an additional 77,970 shares during the period. Suntrust Banks Inc. boosted its stake in B&G Foods by 20.2% in the fourth quarter. Suntrust Banks Inc. now owns 108,047 shares of the company’s stock valued at $3,783,000 after buying an additional 18,148 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in B&G Foods by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 756,950 shares of the company’s stock valued at $26,508,000 after buying an additional 72,123 shares during the period.
B&G Foods, Inc is a holding company. The Company manufactures, sells and distributes a diverse portfolio of shelf-stable and frozen food, and household products across 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 vinegar, maple syrup, 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, nut clusters and other specialty products.
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