B&G Foods Inc. (BGS) Stock Price Down 1.1%
B&G Foods Inc. (NYSE:BGS) shares traded down 1.1% on Monday . The stock traded as low as $47.82 and last traded at $47.94, with a volume of 163,566 shares traded. The stock had previously closed at $48.46.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of B&G Foods from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson cut shares of B&G Foods from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $40.00 to $45.00 in a research report on Friday, May 13th. Buckingham Research cut shares of B&G Foods from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 10th. Royal Bank Of Canada restated a “buy” rating on shares of B&G Foods in a research report on Saturday, April 30th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $38.00 target price on shares of B&G Foods in a research report on Friday, April 29th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $41.13.
The stock has a market capitalization of $2.97 billion and a price-to-earnings ratio of 33.1770. The company’s 50 day moving average price is $45.62 and its 200-day moving average price is $38.52.
B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.14. The firm had revenue of $353 million for the quarter, compared to analyst estimates of $356.79 million. The business’s revenue was up 62.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities analysts expect that B&G Foods Inc. will post $2.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Thursday, June 30th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, June 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.53%.
In other B&G Foods news, Director Alfred Poe sold 4,920 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $43.55, for a total value of $214,266.00. Following the sale, the director now owns 17,701 shares in the company, valued at $770,878.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas P. Crimmins bought 3,500 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average price of $43.61 per share, for a total transaction of $152,635.00. Following the transaction, the chief financial officer now directly owns 3,500 shares of the company’s stock, valued at $152,635. The disclosure for this purchase can be found here.
A number of hedge funds recently modified their holdings of BGS. Azimuth Capital Management LLC raised its stake 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 in the last quarter. OppenheimerFunds Inc. raised its stake in shares of B&G Foods by 1.3% in the fourth quarter. OppenheimerFunds Inc. now owns 334,677 shares of the company’s stock worth $11,720,000 after buying an additional 4,264 shares in the last quarter. Suntrust Banks Inc. raised its stake 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 in the last quarter. 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 in the last quarter. Finally, Systematic Financial Management LP raised its stake 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 in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.