Royal Bank of Canada Reaffirms Hold Rating for B&G Foods (NYSE:BGS)

Royal Bank of Canada reiterated their hold rating on shares of B&G Foods (NYSE:BGS) in a research report sent to investors on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $27.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Barclays restated a neutral rating on shares of B&G Foods in a research report on Thursday, May 7th. Credit Suisse Group increased their price objective on B&G Foods from $19.00 to $22.00 and gave the stock a neutral rating in a report on Friday, May 15th. DA Davidson started coverage on B&G Foods in a research note on Thursday, June 11th. They set a neutral rating on the stock. Jefferies Financial Group increased their price target on B&G Foods from $19.00 to $23.00 and gave the stock a hold rating in a research note on Monday, July 27th. Finally, Seaport Global Securities assumed coverage on shares of B&G Foods in a research note on Tuesday, July 28th. They set a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. B&G Foods has a consensus rating of Hold and a consensus target price of $21.67.

Shares of NYSE BGS opened at $28.91 on Thursday. B&G Foods has a 12-month low of $10.39 and a 12-month high of $29.65. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 16.24 and a beta of 0.24. The company has a current ratio of 3.69, a quick ratio of 1.78 and a debt-to-equity ratio of 2.52. The stock’s 50 day simple moving average is $24.98 and its 200 day simple moving average is $19.73.

B&G Foods (NYSE:BGS) last posted its earnings results on Thursday, July 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.10. The company had revenue of $512.54 million for the quarter, compared to analysts’ expectations of $509.57 million. B&G Foods had a return on equity of 15.65% and a net margin of 6.22%. As a group, equities analysts forecast that B&G Foods will post 2.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date is Tuesday, September 29th. B&G Foods’s payout ratio is currently 115.85%.

Several large investors have recently bought and sold shares of BGS. State Street Corp raised its holdings in shares of B&G Foods by 5.7% in the 1st quarter. State Street Corp now owns 2,208,315 shares of the company’s stock worth $40,984,000 after purchasing an additional 119,510 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of B&G Foods by 15.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,680,393 shares of the company’s stock worth $30,128,000 after acquiring an additional 222,350 shares in the last quarter. Capital Management Corp VA grew its holdings in shares of B&G Foods by 31.0% in the 1st quarter. Capital Management Corp VA now owns 989,685 shares of the company’s stock worth $17,903,000 after acquiring an additional 234,200 shares during the last quarter. Geode Capital Management LLC raised its position in shares of B&G Foods by 6.6% during the first quarter. Geode Capital Management LLC now owns 897,660 shares of the company’s stock worth $16,238,000 after purchasing an additional 55,876 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of B&G Foods by 1.9% during the first quarter. Advisors Asset Management Inc. now owns 782,267 shares of the company’s stock valued at $14,151,000 after purchasing an additional 14,273 shares during the last quarter. Institutional investors own 75.60% of the company’s stock.

About B&G Foods

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.

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

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