B&G Foods, Inc. (NYSE:BGS) has earned an average rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.17.

BGS has been the topic of several recent analyst reports. Zacks Investment Research cut B&G Foods from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Piper Jaffray Companies initiated coverage on B&G Foods in a report on Tuesday, June 19th. They set a “neutral” rating and a $31.00 price objective on the stock. ValuEngine upgraded B&G Foods from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $39.00 price objective on shares of B&G Foods in a report on Friday, August 3rd.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in B&G Foods by 15.6% in the 2nd quarter. BlackRock Inc. now owns 9,170,456 shares of the company’s stock valued at $274,198,000 after buying an additional 1,234,551 shares during the last quarter. Principal Financial Group Inc. raised its position in B&G Foods by 14.5% in the 1st quarter. Principal Financial Group Inc. now owns 6,012,445 shares of the company’s stock valued at $142,496,000 after buying an additional 760,618 shares during the last quarter. Glenmede Trust Co. NA raised its position in B&G Foods by 146.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,109,493 shares of the company’s stock valued at $33,174,000 after buying an additional 659,552 shares during the last quarter. Epoch Investment Partners Inc. raised its position in B&G Foods by 25.1% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,326,947 shares of the company’s stock valued at $31,449,000 after buying an additional 266,016 shares during the last quarter. Finally, Royal Bank of Canada raised its position in B&G Foods by 6.8% in the 1st quarter. Royal Bank of Canada now owns 3,973,141 shares of the company’s stock valued at $94,162,000 after buying an additional 253,495 shares during the last quarter. Institutional investors and hedge funds own 99.13% of the company’s stock.

BGS traded down $1.00 during midday trading on Friday, reaching $27.90. 24,403 shares of the company were exchanged, compared to its average volume of 564,378. The company has a current ratio of 3.73, a quick ratio of 1.31 and a debt-to-equity ratio of 2.51. B&G Foods has a one year low of $22.00 and a one year high of $39.75. The stock has a market cap of $1.93 billion, a P/E ratio of 13.25 and a beta of 0.46.

B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, August 2nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). B&G Foods had a return on equity of 16.12% and a net margin of 11.23%. The company had revenue of $388.40 million for the quarter, compared to the consensus estimate of $386.91 million. During the same quarter last year, the business posted $0.41 EPS. B&G Foods’s quarterly revenue was up 7.4% on a year-over-year basis. equities analysts forecast that B&G Foods will post 2.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 6.81%. The ex-dividend date is Thursday, September 27th. B&G Foods’s dividend payout ratio (DPR) is presently 89.62%.

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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