B&G Foods Inc. (BGS) Stock Price Down 1.3%
B&G Foods Inc. (NYSE:BGS)’s share price dropped 1.3% during mid-day trading 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.
BGS has been the topic of a number of recent research reports. Buckingham Research cut B&G Foods from a “buy” rating to a “neutral” rating in a report on Tuesday, May 10th. DA Davidson cut B&G Foods from a “buy” rating to a “neutral” rating and raised their price objective for the company from $40.00 to $45.00 in a research note on Friday, May 13th. Royal Bank Of Canada restated an “outperform” rating and set a $49.00 price objective (down from $52.00) on shares of B&G Foods in a research note on Friday, July 29th. Credit Suisse Group AG restated a “hold” rating and set a $45.00 price objective on shares of B&G Foods in a research note on Thursday, July 28th. Finally, Zacks Investment Research cut B&G Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company. B&G Foods currently has a consensus rating of “Hold” and an average target price of $45.33.
The company has a 50 day moving average price of $48.27 and a 200-day moving average price of $41.40. The firm has a market cap of $2.96 billion and a P/E ratio of 29.77.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.11. The firm earned $306.40 million during the quarter, compared to analysts’ expectations of $316.56 million. B&G Foods’s revenue for the quarter was up 58.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. On average, equities analysts predict that B&G Foods Inc. will post $2.19 earnings per share for the current fiscal year.
The company 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 annualized dividend and a yield of 3.56%.
A hedge fund recently raised its stake in B&G Foods stock. Morgan Stanley boosted its stake in B&G Foods Inc. (NYSE:BGS) by 66.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 393,805 shares of the company’s stock after buying an additional 157,455 shares during the period. Morgan Stanley owned approximately 0.68% of B&G Foods worth $13,791,000 at the end of the most recent reporting 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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