B&G Foods, Inc. (BGS) Upgraded to “Overweight” by Stephens

Stephens upgraded shares of B&G Foods, Inc. (NYSE:BGS) from an equal weight rating to an overweight rating in a research note published on Wednesday, November 1st, MarketBeat.com reports. They currently have $39.00 price objective on the stock.

BGS has been the topic of a number of other research reports. BidaskClub downgraded B&G Foods from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada reissued a buy rating and issued a $52.00 price objective on shares of B&G Foods in a research note on Tuesday, July 18th. Citigroup Inc. raised B&G Foods from a neutral rating to a buy rating and set a $43.00 price objective on the stock in a research note on Thursday, July 20th. BMO Capital Markets raised B&G Foods from a market perform rating to an outperform rating in a research report on Monday, August 7th. Finally, Buckingham Research cut their target price on B&G Foods from $43.00 to $36.00 and set a neutral rating on the stock in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. B&G Foods currently has an average rating of Buy and an average target price of $40.22.

Shares of B&G Foods (NYSE:BGS) remained flat at $$36.35 during trading on Wednesday. 761,239 shares of the company’s stock were exchanged, compared to its average volume of 844,717. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.06 and a current ratio of 3.24. The stock has a market cap of $2,420.00, a P/E ratio of 19.86 and a beta of 0.11. B&G Foods has a fifty-two week low of $29.50 and a fifty-two week high of $47.75.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, October 31st. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.08. The firm had revenue of $408.40 million for the quarter, compared to the consensus estimate of $391.31 million. B&G Foods had a return on equity of 15.50% and a net margin of 6.29%. The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. equities research analysts predict that B&G Foods will post 2.12 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be given a $0.465 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 5.12%. B&G Foods’s dividend payout ratio is currently 122.37%.

Several large investors have recently made changes to their positions in BGS. Teachers Advisors LLC lifted its position in shares of B&G Foods by 3.9% during the 1st quarter. Teachers Advisors LLC now owns 112,951 shares of the company’s stock worth $4,546,000 after purchasing an additional 4,204 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of B&G Foods by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 6,133,609 shares of the company’s stock worth $246,879,000 after purchasing an additional 231,982 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of B&G Foods by 8.7% during the 1st quarter. Geode Capital Management LLC now owns 514,807 shares of the company’s stock worth $20,720,000 after purchasing an additional 41,292 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of B&G Foods by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,522,094 shares of the company’s stock worth $61,265,000 after purchasing an additional 13,480 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of B&G Foods by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 73,884 shares of the company’s stock worth $2,974,000 after purchasing an additional 600 shares during the last quarter. 89.51% of the stock is owned by institutional investors.

B&G Foods Company Profile

B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across 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 vinegar, maple syrup, 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, nut clusters and other specialty products.

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

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