B&G Foods, Inc. (NYSE:BGS) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Monday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Thursday, June 1st. Royal Bank Of Canada restated a “buy” rating and issued a $52.00 target price on shares of B&G Foods in a report on Tuesday, May 23rd. Credit Suisse Group lowered B&G Foods from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $47.00 to $42.00 in a report on Thursday, May 18th. Berenberg Bank assumed coverage on B&G Foods in a report on Tuesday, May 16th. They issued a “hold” rating and a $43.50 target price for the company. Finally, BidaskClub upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $42.81.

Shares of B&G Foods (BGS) opened at 32.10 on Monday. The stock’s 50 day moving average is $36.18 and its 200-day moving average is $40.53. The firm has a market cap of $2.13 billion, a P/E ratio of 19.19 and a beta of 0.09. B&G Foods has a 52-week low of $31.15 and a 52-week high of $51.56.

B&G Foods (NYSE:BGS) last posted its earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.06. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The company had revenue of $368.10 million during the quarter, compared to analyst estimates of $376.45 million. During the same quarter last year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities analysts anticipate that B&G Foods will post $2.11 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Azimuth Capital Management LLC increased its position in shares of B&G Foods by 4.3% in the first quarter. Azimuth Capital Management LLC now owns 96,082 shares of the company’s stock valued at $3,867,000 after buying an additional 4,005 shares in the last quarter. Diversified Trust Co acquired a new position in shares of B&G Foods during the second quarter valued at approximately $215,000. BNP Paribas Arbitrage SA increased its position in shares of B&G Foods by 9.4% in the first quarter. BNP Paribas Arbitrage SA now owns 13,366 shares of the company’s stock valued at $538,000 after buying an additional 1,143 shares in the last quarter. Torch Wealth Management LLC increased its position in shares of B&G Foods by 0.6% in the first quarter. Torch Wealth Management LLC now owns 39,300 shares of the company’s stock valued at $1,582,000 after buying an additional 225 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of B&G Foods by 15.6% in the first quarter. Principal Financial Group Inc. now owns 1,379,585 shares of the company’s stock valued at $55,528,000 after buying an additional 186,531 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

About B&G Foods

B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods 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.

Analyst Recommendations for B&G Foods (NYSE:BGS)

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