B&G Foods, Inc. (NYSE:BGS) PT Lowered to $37.00

B&G Foods, Inc. (NYSE:BGS) had its target price lowered by Barclays PLC from $46.00 to $37.00 in a report released on Tuesday, August 8th. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price objective points to a potential upside of 17.83% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Thursday, June 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $52.00 price target on shares of B&G Foods in a report on Tuesday, May 23rd. Credit Suisse Group lowered shares of B&G Foods from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $47.00 to $42.00 in a report on Thursday, May 18th. Berenberg Bank began coverage on shares of B&G Foods in a report on Tuesday, May 16th. They issued a “hold” rating and a $43.50 price target on the stock. Finally, BidaskClub upgraded shares of B&G Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.17.

Shares of B&G Foods (NYSE:BGS) traded down 0.95% during mid-day trading on Tuesday, reaching $31.40. The company’s stock had a trading volume of 1,263,281 shares. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 20.60 and a beta of 0.09. The firm’s 50 day moving average price is $34.30 and its 200-day moving average price is $39.48. B&G Foods has a 1-year low of $30.80 and a 1-year high of $50.81.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.06. The company had revenue of $368.10 million during the quarter, compared to analyst estimates of $376.45 million. B&G Foods had a net margin of 6.64% and a return on equity of 15.43%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. On average, analysts predict that B&G Foods will post $2.07 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in the company. Glen Harbor Capital Management LLC increased its stake in B&G Foods by 3.7% in the first quarter. Glen Harbor Capital Management LLC now owns 5,712 shares of the company’s stock valued at $230,000 after buying an additional 204 shares during the period. Sit Investment Associates Inc. increased its stake in B&G Foods by 70.9% in the first quarter. Sit Investment Associates Inc. now owns 420,575 shares of the company’s stock valued at $16,928,000 after buying an additional 174,525 shares during the period. Fisher Asset Management LLC increased its stake in B&G Foods by 43.9% in the first quarter. Fisher Asset Management LLC now owns 49,092 shares of the company’s stock valued at $1,976,000 after buying an additional 14,977 shares during the period. Naples Global Advisors LLC increased its stake in B&G Foods by 15.5% in the first quarter. Naples Global Advisors LLC now owns 19,790 shares of the company’s stock valued at $797,000 after buying an additional 2,650 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in B&G Foods by 3.7% in the first quarter. State of Alaska Department of Revenue now owns 13,030 shares of the company’s stock valued at $523,000 after buying an additional 470 shares during the period. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Company Profile

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.

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

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