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

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. “

A number of other brokerages also recently weighed in on BGS. Citigroup Inc. raised shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 20th. BidaskClub raised shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 price target on shares of B&G Foods in a report on Tuesday, July 18th. BMO Capital Markets reduced their price target 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, August 4th. Finally, Credit Suisse Group set a $36.00 price target on shares of B&G Foods and gave the company a “hold” rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. B&G Foods presently has an average rating of “Hold” and an average price target of $41.50.

Shares of B&G Foods (NYSE BGS) traded up 0.15% during trading on Thursday, reaching $32.55. 806,104 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.16 billion, a P/E ratio of 21.36 and a beta of 0.11. The company has a 50 day moving average of $31.32 and a 200 day moving average of $36.54. 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 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 the consensus estimate of $376.45 million. During the same period last year, the company earned $0.57 earnings per share. B&G Foods’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities analysts anticipate that B&G Foods will post $2.08 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC lifted its holdings in shares of B&G Foods by 934.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock worth $102,000 after acquiring an additional 2,599 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of B&G Foods by 61.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock worth $109,000 after acquiring an additional 1,162 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of B&G Foods by 19.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,958 shares of the company’s stock worth $141,000 after acquiring an additional 648 shares during the period. Bank of Montreal Can lifted its holdings in shares of B&G Foods by 4.4% during the 2nd quarter. Bank of Montreal Can now owns 5,000 shares of the company’s stock worth $178,000 after acquiring an additional 211 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in shares of B&G Foods by 97.5% during the 2nd quarter. North Star Investment Management Corp. now owns 5,765 shares of the company’s stock worth $205,000 after acquiring an additional 2,846 shares during the period. 90.41% of the stock is owned by 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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Analyst Recommendations for B&G Foods (NYSE:BGS)

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