B&G Foods, Inc. Expected to Earn Q4 2017 Earnings of $0.68 Per Share (BGS)
B&G Foods, Inc. (NYSE:BGS) – Investment analysts at William Blair raised their Q4 2017 earnings per share (EPS) estimates for shares of B&G Foods in a research note issued to investors on Monday. William Blair analyst J. Andersen now expects that the company will post earnings per share of $0.68 for the quarter, up from their prior estimate of $0.66.
A number of other research analysts also recently commented on the stock. BidaskClub downgraded shares of 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 set a $52.00 price objective on shares of B&G Foods in a report on Tuesday, July 18th. Citigroup Inc. raised 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 report on Thursday, July 20th. Buckingham Research dropped their target price on shares of B&G Foods from $43.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, August 4th. Finally, BMO Capital Markets upgraded shares of B&G Foods from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.44.
B&G Foods (NYSE BGS) traded up 0.1892% during trading on Wednesday, reaching $32.5114. 68,353 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.16 billion, a PE ratio of 21.3329 and a beta of 0.11. The stock has a 50-day moving average of $31.29 and a 200-day moving average of $36.57. B&G Foods has a 52 week low of $29.50 and a 52 week high of $49.15.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $376.45 million. During the same quarter last year, the company posted $0.57 EPS. B&G Foods’s quarterly revenue was up 20.1% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Friday, September 29th will be issued a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date is Thursday, September 28th. B&G Foods’s dividend payout ratio is presently 122.37%.
A number of hedge funds have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC raised its holdings in shares of B&G Foods by 934.9% during the second quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock worth $102,000 after purchasing an additional 2,599 shares during the period. Riverhead Capital Management LLC lifted its position in shares of B&G Foods by 61.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock worth $109,000 after buying an additional 1,162 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of B&G Foods by 19.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,958 shares of the company’s stock worth $141,000 after buying an additional 648 shares during the last quarter. Bank of Montreal Can lifted its position in shares of B&G Foods by 4.4% in the 2nd quarter. Bank of Montreal Can now owns 5,000 shares of the company’s stock worth $178,000 after buying an additional 211 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its position in shares of B&G Foods by 97.5% in the 2nd quarter. North Star Investment Management Corp. now owns 5,765 shares of the company’s stock worth $205,000 after buying an additional 2,846 shares during the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.
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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