B&G Foods, Inc. (NYSE:BGS) – Analysts at William Blair reduced their FY2017 EPS estimates for shares of B&G Foods in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. William Blair analyst J. Andersen now forecasts that the company will post earnings of $2.16 per share for the year, down from their previous forecast of $2.17. William Blair also issued estimates for B&G Foods’ Q4 2017 earnings at $0.62 EPS and FY2018 earnings at $2.26 EPS.
Several other equities research analysts have also commented on the stock. Stephens upgraded shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective on the stock in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of B&G Foods from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Tuesday, October 17th. Buckingham Research raised shares of B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, August 23rd. Barclays PLC cut their target price on shares of B&G Foods from $46.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 8th. Finally, BMO Capital Markets raised shares of B&G Foods from a “market perform” rating to an “outperform” rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.61.
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Shares of B&G Foods (NYSE BGS) opened at $34.40 on Monday. B&G Foods has a 1 year low of $29.50 and a 1 year high of $47.75. The company has a quick ratio of 1.06, a current ratio of 3.24 and a debt-to-equity ratio of 2.34. The company has a market cap of $2,230.95, a PE ratio of 18.33 and a beta of 0.11.
B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, October 31st. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.47 by $0.08. The company had revenue of $408.40 million for the quarter, compared to analyst estimates of $391.31 million. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The business’s revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC boosted its holdings in B&G Foods by 1,360.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,300 shares of the company’s stock worth $233,000 after acquiring an additional 6,800 shares during the period. Point72 Asset Management L.P. boosted its holdings in B&G Foods by 1,503.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 588,485 shares of the company’s stock worth $18,743,000 after acquiring an additional 551,785 shares during the period. Advantage Investment Management LLC boosted its holdings in B&G Foods by 212.0% in the 3rd quarter. Advantage Investment Management LLC now owns 3,763 shares of the company’s stock worth $120,000 after acquiring an additional 2,557 shares during the period. Clear Perspective Advisors LLC boosted its holdings in B&G Foods by 16.8% in the 3rd quarter. Clear Perspective Advisors LLC now owns 16,825 shares of the company’s stock worth $536,000 after acquiring an additional 2,425 shares during the period. Finally, Epoch Investment Partners Inc. boosted its holdings in B&G Foods by 22.3% in the 3rd quarter. Epoch Investment Partners Inc. now owns 971,440 shares of the company’s stock worth $30,940,000 after acquiring an additional 176,921 shares during the period. Hedge funds and other institutional investors own 91.17% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be issued a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Thursday, December 28th. B&G Foods’s dividend payout ratio is presently 123.18%.
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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