ValuEngine upgraded shares of B&G Foods (NYSE:BGS) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday morning.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada reissued a buy rating and set a $39.00 target price on shares of B&G Foods in a research note on Friday, August 3rd. Zacks Investment Research lowered shares of B&G Foods from a hold rating to a sell rating in a research note on Tuesday, August 7th. Credit Suisse Group increased their target price on shares of B&G Foods from $21.00 to $23.00 and gave the stock an underperform rating in a research note on Wednesday, October 31st. Finally, Citigroup lowered their target price on shares of B&G Foods from $34.00 to $33.00 and set a buy rating on the stock in a research note on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $34.22.

Shares of BGS stock traded down $0.20 during mid-day trading on Wednesday, hitting $28.11. 31,061 shares of the stock were exchanged, compared to its average volume of 679,798. The company has a quick ratio of 0.79, a current ratio of 1.61 and a debt-to-equity ratio of 2.07. B&G Foods has a 52-week low of $22.00 and a 52-week high of $39.75. The firm has a market cap of $1.86 billion, a P/E ratio of 13.18 and a beta of 0.52.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. B&G Foods had a net margin of 11.09% and a return on equity of 16.01%. The business had revenue of $422.60 million for the quarter, compared to analyst estimates of $429.53 million. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts anticipate that B&G Foods will post 2.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Investors of record on Monday, December 31st will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.90 annualized dividend and a dividend yield of 6.76%. B&G Foods’s dividend payout ratio (DPR) is presently 89.62%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new position in shares of B&G Foods during the 2nd quarter worth about $185,000. Cubist Systematic Strategies LLC acquired a new position in shares of B&G Foods during the 2nd quarter worth about $205,000. First Allied Advisory Services Inc. acquired a new position in shares of B&G Foods during the 2nd quarter worth about $216,000. Selway Asset Management acquired a new position in shares of B&G Foods during the 2nd quarter worth about $217,000. Finally, Park Avenue Securities LLC acquired a new position in shares of B&G Foods during the 2nd quarter worth about $230,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in 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 vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.

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

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