B&G Foods (BGS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of B&G Foods (NYSE:BGS) from a hold rating to a sell rating in a research report report published on Thursday, January 4th.

According to Zacks, “B&G Foods, Inc. (formerly kown as B&G Foods Holdings Corp.) manufactures, sells, and distributes a portfolio of shelf-stable, and frozen food and household products in 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. The company markets its products under various brands, including Accent, B&G, B&M, Bakers Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emerils, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonalds, Mama Mary’s, Maple Grove Farms of Vermont, Molly McButter, Mrs. Dash etc. “

A number of other brokerages also recently issued reports on BGS. Berenberg Bank raised B&G Foods from a hold rating to a buy rating and lowered their price target for the company from $43.50 to $40.00 in a report on Thursday, November 16th. Stephens raised B&G Foods from an equal weight rating to an overweight rating and set a $39.00 price target on the stock in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. B&G Foods presently has a consensus rating of Hold and an average target price of $40.22.

Shares of B&G Foods (NYSE:BGS) traded down $0.60 during mid-day trading on Thursday, reaching $33.60. The company had a trading volume of 1,267,081 shares, compared to its average volume of 1,050,048. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.06 and a current ratio of 3.24. B&G Foods has a 12 month low of $29.50 and a 12 month high of $47.75. The stock has a market capitalization of $2,230.00, a PE ratio of 22.11 and a beta of 0.18.

B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, October 31st. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.08. B&G Foods had a return on equity of 15.50% and a net margin of 6.29%. The business had revenue of $408.40 million for the quarter, compared to the consensus estimate of $391.31 million. During the same period in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. equities research analysts predict that B&G Foods will post 2.13 earnings per share for the current year.

The company also recently announced 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 5.54%. The ex-dividend date is Thursday, December 28th. B&G Foods’s dividend payout ratio is 122.37%.

Hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC lifted its holdings in B&G Foods by 934.9% in the second quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock valued at $102,000 after acquiring an additional 2,599 shares during the period. Riverhead Capital Management LLC lifted its holdings in B&G Foods by 61.2% in the second quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock valued at $109,000 after acquiring an additional 1,162 shares during the period. Advantage Investment Management LLC lifted its holdings in B&G Foods by 212.0% in the third quarter. Advantage Investment Management LLC now owns 3,763 shares of the company’s stock valued at $120,000 after acquiring an additional 2,557 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in B&G Foods by 19.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,958 shares of the company’s stock valued at $141,000 after acquiring an additional 648 shares during the period. Finally, Sei Investments Co. increased its position in B&G Foods by 298.9% in the third quarter. Sei Investments Co. now owns 4,033 shares of the company’s stock worth $128,000 after buying an additional 3,022 shares in the last quarter. 93.91% of the stock is currently owned by institutional investors.

WARNING: “B&G Foods (BGS) Stock Rating Lowered by Zacks Investment Research” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/01/11/bg-foods-bgs-cut-to-sell-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on B&G Foods (BGS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply