B&G Foods, Inc. (BGS) Receives $28.06 Consensus Target Price from Analysts

B&G Foods, Inc. (NYSE:BGS) has received a consensus recommendation of “Hold” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $28.06.

A number of equities analysts have recently issued reports on BGS shares. BMO Capital Markets downgraded B&G Foods from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $37.00 to $33.00 in a research note on Thursday, January 10th. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. ValuEngine downgraded B&G Foods from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Buckingham Research downgraded B&G Foods from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $23.00 in a research note on Wednesday, February 27th. Finally, Citigroup dropped their price objective on B&G Foods from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, February 27th.

Shares of BGS stock opened at $21.84 on Friday. The company has a market cap of $1.46 billion, a PE ratio of 11.81 and a beta of 0.44. B&G Foods has a 12-month low of $21.70 and a 12-month high of $33.50. The company has a quick ratio of 0.74, a current ratio of 2.15 and a debt-to-equity ratio of 1.90.

B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, May 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The business had revenue of $412.70 million for the quarter, compared to analysts’ expectations of $406.04 million. B&G Foods had a return on equity of 13.26% and a net margin of 10.03%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. On average, equities research analysts expect that B&G Foods will post 1.85 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 8.70%. The ex-dividend date of this dividend was Thursday, March 28th. B&G Foods’s payout ratio is currently 102.70%.

In other news, COO Kenneth G. Romanzi acquired 1,200 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $24.64 per share, with a total value of $29,568.00. Following the purchase, the chief operating officer now directly owns 1,200 shares of the company’s stock, valued at approximately $29,568. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in B&G Foods by 1.0% during the 4th quarter. BlackRock Inc. now owns 9,551,437 shares of the company’s stock valued at $276,132,000 after buying an additional 91,843 shares during the last quarter. Vanguard Group Inc grew its holdings in B&G Foods by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 6,924,430 shares of the company’s stock valued at $190,075,000 after buying an additional 149,343 shares during the last quarter. Vanguard Group Inc. grew its holdings in B&G Foods by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,924,430 shares of the company’s stock valued at $190,075,000 after buying an additional 149,343 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in B&G Foods by 3.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,428,670 shares of the company’s stock valued at $39,218,000 after buying an additional 41,230 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in B&G Foods by 2.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,365,555 shares of the company’s stock valued at $39,478,000 after buying an additional 30,937 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

About B&G Foods

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, oatmeal and 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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