Analysts Set B&G Foods, Inc. (BGS) Price Target at $41.00
B&G Foods, Inc. (NYSE:BGS) has earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $41.00.
BGS has been the topic of a number of recent analyst reports. Berenberg Bank raised shares of B&G Foods from a “hold” rating to a “buy” rating and cut their price target for the stock from $43.50 to $40.00 in a report on Thursday, November 16th. Zacks Investment Research raised shares of B&G Foods from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Tuesday, October 17th. Finally, Stephens raised shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price target on the stock in a report on Wednesday, November 1st.
Institutional investors and hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC boosted its stake in shares of B&G Foods by 934.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock valued at $102,000 after purchasing an additional 2,599 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of B&G Foods by 61.2% during the second quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock valued at $109,000 after purchasing an additional 1,162 shares during the last quarter. Advantage Investment Management LLC raised its holdings in shares of B&G Foods by 212.0% during the third quarter. Advantage Investment Management LLC now owns 3,763 shares of the company’s stock valued at $120,000 after purchasing an additional 2,557 shares during the last quarter. Sei Investments Co. raised its holdings in shares of B&G Foods by 298.9% during the third quarter. Sei Investments Co. now owns 4,033 shares of the company’s stock valued at $128,000 after purchasing an additional 3,022 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of B&G Foods by 19.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,958 shares of the company’s stock valued at $141,000 after purchasing an additional 648 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.
B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08. The business had revenue of $408.40 million for the quarter, compared to analyst estimates of $391.31 million. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The company’s revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. sell-side analysts expect that B&G Foods will post 2.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Thursday, December 28th. B&G Foods’s payout ratio is 123.18%.
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B&G Foods Company Profile
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.
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