B&G Foods, Inc. (NYSE:BGS) Price Target Cut to $37.00
B&G Foods, Inc. (NYSE:BGS) had its price target decreased by analysts at Barclays PLC from $46.00 to $37.00 in a report released on Tuesday. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s price objective would suggest a potential upside of 17.65% from the company’s current price.
A number of other research analysts also recently issued reports on BGS. Zacks Investment Research upgraded B&G Foods from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, June 1st. Royal Bank Of Canada restated a “buy” rating and set a $52.00 price target on shares of B&G Foods in a research note on Tuesday, May 23rd. Credit Suisse Group downgraded B&G Foods from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $47.00 to $42.00 in a research note on Thursday, May 18th. Berenberg Bank initiated coverage on B&G Foods in a research note on Tuesday, May 16th. They set a “hold” rating and a $43.50 price target on the stock. Finally, BidaskClub upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $42.17.
Shares of B&G Foods (NYSE BGS) traded down 3.82% during midday trading on Tuesday, hitting $31.45. The stock had a trading volume of 1,194,490 shares. The firm has a 50 day moving average price of $36.18 and a 200 day moving average price of $40.53. The stock has a market cap of $2.09 billion, a PE ratio of 18.80 and a beta of 0.09. B&G Foods has a one year low of $31.35 and a one year high of $51.56.
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 the consensus estimate of $0.47 by $0.06. B&G Foods had a return on equity of 15.43% and a net margin of 6.64%. The business had revenue of $368.10 million for the quarter, compared to analyst estimates of $376.45 million. During the same period last year, the business posted $0.57 EPS. B&G Foods’s revenue was up 20.1% on a year-over-year basis. On average, equities analysts forecast that B&G Foods will post $2.09 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. WASHINGTON TRUST Co raised its position in B&G Foods by 1.0% in the first quarter. WASHINGTON TRUST Co now owns 154,418 shares of the company’s stock valued at $6,215,000 after buying an additional 1,519 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its position in B&G Foods by 3.1% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 15,120 shares of the company’s stock valued at $609,000 after buying an additional 450 shares during the last quarter. State of Alaska Department of Revenue raised its position in B&G Foods by 3.7% in the first quarter. State of Alaska Department of Revenue now owns 13,030 shares of the company’s stock valued at $523,000 after buying an additional 470 shares during the last quarter. Creative Planning raised its position in B&G Foods by 1.4% in the first quarter. Creative Planning now owns 8,626 shares of the company’s stock valued at $347,000 after buying an additional 120 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in B&G Foods by 12.0% in the first quarter. Nisa Investment Advisors LLC now owns 90,300 shares of the company’s stock valued at $3,635,000 after buying an additional 9,700 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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