B&G Foods, Inc. (NYSE:BGS) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, July 20th, MarketBeat Ratings reports. The brokerage currently has a $43.00 target price on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 35.86% from the stock’s current price.
BGS has been the topic of a number of other research reports. BMO Capital Markets restated a “hold” rating and issued a $45.00 target price on shares of B&G Foods in a research report on Friday, May 5th. Zacks Investment Research lowered shares of B&G Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $52.00 price target on shares of B&G Foods in a research note on Tuesday, July 18th. Finally, BidaskClub downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.17.
B&G Foods (NYSE BGS) traded up 0.32% during trading on Thursday, reaching $31.65. The company had a trading volume of 820,774 shares. The company has a 50-day moving average price of $34.68 and a 200 day moving average price of $39.68. The stock has a market cap of $2.10 billion, a PE ratio of 20.77 and a beta of 0.09. B&G Foods has a 52-week low of $30.95 and a 52-week high of $50.81.
B&G Foods (NYSE:BGS) last issued its earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.06. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The company had revenue of $368.10 million during the quarter, compared to analyst estimates of $376.45 million. During the same quarter in the prior year, the business earned $0.57 EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts anticipate that B&G Foods will post $2.07 earnings per share for the current year.
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A number of large investors have recently bought and sold shares of the stock. Ibex Wealth Advisors increased its stake in B&G Foods by 3.1% in the fourth quarter. Ibex Wealth Advisors now owns 43,547 shares of the company’s stock valued at $1,894,000 after buying an additional 1,294 shares during the period. Azimuth Capital Management LLC increased its stake in B&G Foods by 4.3% in the first quarter. Azimuth Capital Management LLC now owns 96,082 shares of the company’s stock valued at $3,867,000 after buying an additional 4,005 shares during the period. Diversified Trust Co bought a new stake in B&G Foods during the second quarter valued at $215,000. BNP Paribas Arbitrage SA increased its stake in B&G Foods by 9.4% in the first quarter. BNP Paribas Arbitrage SA now owns 13,366 shares of the company’s stock valued at $538,000 after buying an additional 1,143 shares during the period. Finally, Norges Bank bought a new stake in B&G Foods during the fourth quarter valued at $29,891,000. 93.48% of the stock is owned by hedge funds and other institutional investors.
About B&G Foods
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.
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