B&G Foods Inc. (BGS) Issues Earnings Results

B&G Foods Inc. (NYSE:BGS) released its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.11. During the same period last year, the firm earned $0.34 earnings per share. The company had revenue of $306.40 million for the quarter, compared to the consensus estimate of $316.56 million. The company’s revenue for the quarter was up 58.3% compared to the same quarter last year. B&G Foods updated its FY16 guidance to $2.11-2.21 EPS.

B&G Foods (NYSE:BGS) traded up 0.93% during midday trading on Thursday, hitting $45.79. The stock had a trading volume of 623,352 shares. The company has a 50-day moving average price of $46.68 and a 200-day moving average price of $39.43. B&G Foods has a 52 week low of $28.12 and a 52 week high of $48.51. The stock has a market cap of $2.87 billion and a P/E ratio of 32.04.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, June 28th.

In other B&G Foods news, CFO Thomas P. Crimmins acquired 3,500 shares of B&G Foods stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $43.61 per share, for a total transaction of $152,635.00. Following the purchase, the chief financial officer now directly owns 3,500 shares of the company’s stock, valued at $152,635. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alfred Poe sold 4,920 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $43.55, for a total value of $214,266.00. Following the completion of the transaction, the director now owns 17,701 shares of the company’s stock, valued at approximately $770,878.55. The disclosure for this sale can be found here.

A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of B&G Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $45.00 price objective on shares of B&G Foods in a research report on Thursday. DA Davidson cut shares of B&G Foods from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $40.00 to $45.00 in a research report on Friday, May 13th. Buckingham Research cut shares of B&G Foods from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of B&G Foods in a research report on Saturday, April 30th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.00.

B&G Foods, Inc (B&G Foods) is a holding company that manufactures, sells and distributes a range of shelf-stable food and household products across the United States, Canada and Puerto Rico. Its products include hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, 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.