B&G Foods Inc. (BGS) Trading Down 1.3%
Shares of B&G Foods Inc. (NYSE:BGS) were down 1.3% on Tuesday . The company traded as low as $47.30 and last traded at $47.31, with a volume of 262,425 shares traded. The stock had previously closed at $47.93.
A number of analysts recently weighed in on BGS shares. DA Davidson upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and increased their price target for the stock from $47.00 to $52.00 in a research note on Friday, July 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $49.00 price target (down previously from $52.00) on shares of B&G Foods in a research note on Friday, July 29th. Credit Suisse Group AG reiterated a “hold” rating and set a $38.00 price target on shares of B&G Foods in a research note on Friday, April 29th. Zacks Investment Research upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Monday, August 1st. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $52.00 price target (up previously from $49.00) on shares of B&G Foods in a research note on Sunday, July 31st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. B&G Foods has an average rating of “Hold” and an average target price of $45.33.
The company has a market capitalization of $2.97 billion and a PE ratio of 29.91. The company’s 50 day moving average is $48.30 and its 200 day moving average is $41.32.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The company earned $306.40 million during the quarter, compared to the consensus estimate of $316.56 million. The firm’s quarterly revenue was up 58.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. On average, equities analysts forecast that B&G Foods Inc. will post $2.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.54%.
Several hedge funds recently modified their holdings of BGS. New York State Common Retirement Fund raised its stake in shares of B&G Foods by 36.2% in the fourth quarter. New York State Common Retirement Fund now owns 115,685 shares of the company’s stock worth $4,051,000 after buying an additional 30,775 shares during the period. Wells Fargo & Company MN raised its stake in B&G Foods by 72.1% in the fourth quarter. Wells Fargo & Company MN now owns 307,018 shares of the company’s stock valued at $10,752,000 after buying an additional 128,578 shares during the last quarter. Finally, Morgan Stanley raised its stake in B&G Foods by 66.6% in the fourth quarter. Morgan Stanley now owns 393,805 shares of the company’s stock valued at $13,791,000 after buying an additional 157,455 shares during the last quarter.
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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