B&G Foods, Inc. (NYSE:BGS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “B&G FOODS and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, shelf-stable foods across the United States, Canada and Puerto Rico. B&G Foods’ products include hot cereals, fruit spreads, canned meats and beans, spices, seasonings, marinades, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles, peppers and other specialty food products. B&G Foods competes in the retail grocery, food service, specialty, private label, club and mass merchandiser channels of distribution. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Brer Rabbit, Cream of Rice, Cream of Wheat, Emeril’s, Grandma’s Molasses, Joan of Arc, Las Palmas, Maple Grove Farms of Vermont, Ortega, Polaner, Red Devil, Regina, Sa-són, Trappey’s, Underwood, Vermont Maid and Wright’s. “

Several other equities analysts also recently weighed in on the stock. Credit Suisse Group downgraded shares of B&G Foods from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $47.00 to $42.00 in a research note on Thursday, May 18th. Citigroup Inc. upgraded shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, July 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $52.00 target price on shares of B&G Foods in a research note on Thursday, April 20th. BidaskClub upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $45.00 target price on shares of B&G Foods in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.81.

B&G Foods (NYSE:BGS) traded up 1.87% during mid-day trading on Monday, reaching $32.70. 1,311,910 shares of the company’s stock were exchanged. The company has a 50-day moving average of $36.18 and a 200-day moving average of $40.53. B&G Foods has a 52-week low of $32.35 and a 52-week high of $51.56. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 19.55 and a beta of 0.09.

B&G Foods (NYSE:BGS) last posted its earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.06. The business had revenue of $368.10 million during the quarter, compared to analysts’ expectations of $376.45 million. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. B&G Foods’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Equities research analysts anticipate that B&G Foods will post $2.11 earnings per share for the current year.

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Several institutional investors have recently added to or reduced their stakes in BGS. Alps Advisors Inc. raised its position in B&G Foods by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,511 shares of the company’s stock worth $410,000 after buying an additional 30 shares during the period. Maple Capital Management Inc. raised its stake in shares of B&G Foods by 0.5% in the first quarter. Maple Capital Management Inc. now owns 10,784 shares of the company’s stock valued at $434,000 after buying an additional 50 shares during the last quarter. TNB Financial raised its stake in shares of B&G Foods by 0.8% in the second quarter. TNB Financial now owns 6,550 shares of the company’s stock valued at $233,000 after buying an additional 50 shares during the last quarter. Tyers Asset Management LLC raised its stake in shares of B&G Foods by 3.7% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the company’s stock valued at $108,000 after buying an additional 96 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of B&G Foods by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 18,070 shares of the company’s stock valued at $727,000 after buying an additional 100 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

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.

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

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