Media headlines about B&G Foods (NYSE:BGS) have been trending somewhat positive on Monday, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. B&G Foods earned a media sentiment score of 0.05 on Accern’s scale. Accern also assigned news articles about the company an impact score of 45.581739508692 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s rankings:
NYSE BGS opened at $24.65 on Monday. The firm has a market capitalization of $1,639.20, a PE ratio of 11.63 and a beta of 0.27. B&G Foods has a 52 week low of $22.35 and a 52 week high of $43.10. The company has a quick ratio of 1.91, a current ratio of 4.40 and a debt-to-equity ratio of 2.52.
B&G Foods (NYSE:BGS) last released its earnings results on Tuesday, February 27th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The company had revenue of $473.70 million during the quarter, compared to analysts’ expectations of $482.51 million. B&G Foods had a return on equity of 17.29% and a net margin of 13.04%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. equities research analysts expect that B&G Foods will post 2.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be paid a $0.465 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.86 annualized dividend and a dividend yield of 7.55%. B&G Foods’s dividend payout ratio (DPR) is currently 87.74%.
B&G Foods announced that its board has approved a stock buyback plan on Tuesday, March 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Several equities analysts have issued reports on BGS shares. Zacks Investment Research downgraded B&G Foods from a “hold” rating to a “sell” rating in a research report on Monday, December 25th. Credit Suisse Group downgraded B&G Foods from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $34.00 to $21.00 in a research report on Wednesday, March 7th. Stephens reiterated a “buy” rating and issued a $35.00 price objective on shares of B&G Foods in a research report on Thursday, March 1st. Buckingham Research cut their price objective on B&G Foods from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $37.00 price objective (down previously from $39.00) on shares of B&G Foods in a research report on Thursday, March 1st. Four analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $35.89.
In other news, EVP Vanessa E. Maskal sold 8,475 shares of B&G Foods stock in a transaction on Monday, March 5th. The stock was sold at an average price of $30.00, for a total value of $254,250.00. Following the completion of the sale, the executive vice president now directly owns 102,319 shares of the company’s stock, valued at approximately $3,069,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert C. Cantwell bought 10,000 shares of the stock in a transaction dated Friday, March 9th. The stock was purchased at an average cost of $26.42 per share, with a total value of $264,200.00. Following the completion of the purchase, the chief executive officer now directly owns 206,239 shares in the company, valued at approximately $5,448,834.38. The disclosure for this purchase can be found here. Insiders bought a total of 11,075 shares of company stock valued at $293,701 over the last three months. Insiders own 2.10% of the company’s stock.
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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, 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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