B&G Foods’ (BGS) Hold Rating Reaffirmed at Barclays

Barclays reissued their hold rating on shares of B&G Foods (NYSE:BGS) in a research report released on Monday, AnalystRatings.com reports. They currently have a $22.00 price objective on the stock.

BGS has been the topic of a number of other reports. Zacks Investment Research cut W. R. Grace & Co from a buy rating to a hold rating in a research note on Wednesday, May 1st. ValuEngine upgraded Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd. Finally, Evercore ISI started coverage on Mondelez International in a research report on Tuesday, June 11th. They set an outperform rating and a $62.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $27.61.

Shares of B&G Foods stock opened at $20.35 on Monday. B&G Foods has a 52-week low of $19.87 and a 52-week high of $33.00. The firm has a 50-day moving average price of $21.57. The company has a market cap of $1.32 billion, a PE ratio of 11.70 and a beta of 0.51. The company has a quick ratio of 0.74, a current ratio of 2.15 and a debt-to-equity ratio of 1.90.

B&G Foods (NYSE:BGS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.05). B&G Foods had a net margin of 10.03% and a return on equity of 13.26%. The firm had revenue of $412.70 million during the quarter, compared to the consensus estimate of $406.04 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. Research analysts predict that B&G Foods will post 1.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Friday, June 28th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 9.34%. The ex-dividend date is Thursday, June 27th. B&G Foods’s dividend payout ratio is presently 102.70%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of B&G Foods by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 700,455 shares of the company’s stock valued at $20,250,000 after buying an additional 56,792 shares during the period. Factorial Partners LLC increased its position in shares of B&G Foods by 34.8% in the first quarter. Factorial Partners LLC now owns 40,700 shares of the company’s stock worth $994,000 after purchasing an additional 10,500 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of B&G Foods by 249.0% in the first quarter. North Star Investment Management Corp. now owns 46,304 shares of the company’s stock worth $1,131,000 after purchasing an additional 33,036 shares during the last quarter. Phocas Financial Corp. increased its position in shares of B&G Foods by 41.6% in the fourth quarter. Phocas Financial Corp. now owns 284,743 shares of the company’s stock worth $8,232,000 after purchasing an additional 83,642 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of B&G Foods by 21.1% in the first quarter. Oppenheimer & Co. Inc. now owns 121,920 shares of the company’s stock worth $2,977,000 after purchasing an additional 21,215 shares during the last quarter. Hedge funds and other institutional investors own 96.56% of the company’s stock.

B&G Foods Company Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, oatmeal and hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.

Featured Story: Trading Strategy

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

Receive News & Ratings for B&G Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for B&G Foods and related companies with MarketBeat.com's FREE daily email newsletter.