B&G Foods, Inc. (BGS) PT Lowered to $36.00
B&G Foods, Inc. (NYSE:BGS) had its price target dropped by research analysts at Buckingham Research from $43.00 to $36.00 in a research report issued on Friday. The brokerage currently has a “neutral” rating on the stock. Buckingham Research’s target price suggests a potential upside of 12.15% from the stock’s previous close.
A number of other analysts also recently issued reports on BGS. BMO Capital Markets dropped their price objective on shares of B&G Foods from $45.00 to $39.00 and set a “market perform” rating for the company in a report on Friday. BidaskClub downgraded shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $52.00 price objective on shares of B&G Foods in a report on Tuesday, July 18th. Zacks Investment Research downgraded shares of B&G Foods from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Berenberg Bank began coverage on shares of B&G Foods in a report on Tuesday, May 16th. They set a “hold” rating and a $43.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $42.81.
B&G Foods (NYSE BGS) traded down 8.68% during trading on Friday, hitting $32.10. The company had a trading volume of 4,160,787 shares. B&G Foods has a one year low of $31.15 and a one year high of $51.56. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 19.34 and a beta of 0.09. The stock has a 50-day moving average of $36.18 and a 200 day moving average of $40.53.
B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by $0.06. B&G Foods had a return on equity of 15.40% and a net margin of 6.64%. The company had revenue of $368.10 million for the quarter, compared to the consensus estimate of $376.45 million. During the same period in the prior year, the firm posted $0.57 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. Equities analysts forecast that B&G Foods will post $2.17 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. 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 in the last quarter. Diversified Trust Co acquired 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 in the last quarter. Torch Wealth Management LLC increased its stake in B&G Foods by 0.6% in the first quarter. Torch Wealth Management LLC now owns 39,300 shares of the company’s stock valued at $1,582,000 after buying an additional 225 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in B&G Foods by 15.6% in the first quarter. Principal Financial Group Inc. now owns 1,379,585 shares of the company’s stock valued at $55,528,000 after buying an additional 186,531 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.
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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