Media coverage about B&G Foods (NYSE:BGS) has trended somewhat positive on Friday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. B&G Foods earned a news sentiment score of 0.09 on Accern’s scale. Accern also gave news headlines about the company an impact score of 46.2093407188948 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the headlines that may have effected Accern’s scoring:
- New Strong Sell Stocks for April 6th (finance.yahoo.com)
- B&G Foods (BGS) Downgraded by ValuEngine to Sell (americanbankingnews.com)
- B&G Foods, Inc. (BGS) predicted to achieve -26.10% EPS growth for this year (wallstreetinvestorplace.com)
- B&G Foods (BGS) Given “Buy” Rating at Royal Bank of Canada (americanbankingnews.com)
- B&G Foods, Inc. (BGS) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
BGS has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $38.00 target price on shares of B&G Foods in a research note on Tuesday. Stephens reissued a “buy” rating and set a $35.00 target price on shares of B&G Foods in a research note on Thursday, March 1st. Buckingham Research lowered their target price on shares of B&G Foods from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Berenberg Bank downgraded B&G Foods from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a report on Thursday, March 1st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.89.
B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, February 27th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The business had revenue of $473.70 million during the quarter, compared to the consensus estimate of $482.51 million. B&G Foods had a net margin of 13.04% and a return on equity of 17.29%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. analysts anticipate that B&G Foods will post 2.12 earnings per share for the current fiscal year.
B&G Foods declared that its Board of Directors has approved a share buyback program on Tuesday, March 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a $0.465 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.86 dividend on an annualized basis and a yield of 7.55%. B&G Foods’s dividend payout ratio is presently 87.74%.
In other news, EVP Vanessa E. Maskal sold 8,475 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $30.00, for a total transaction of $254,250.00. Following the sale, the executive vice president now owns 102,319 shares in the company, valued at $3,069,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert C. Cantwell purchased 10,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were acquired at an average price of $26.42 per share, for a total transaction of $264,200.00. Following the purchase, the chief executive officer now directly owns 206,239 shares of the company’s stock, valued at approximately $5,448,834.38. The disclosure for this purchase can be found here. Insiders acquired 11,075 shares of company stock valued at $293,701 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.
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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, 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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