B&G Foods (NYSE:BGS) Price Target Increased to $27.00 by Analysts at Piper Sandler

B&G Foods (NYSE:BGSGet Rating) had its price target upped by Piper Sandler from $23.00 to $27.00 in a report released on Tuesday morning, The Fly reports. The firm currently has a maintains rating on the stock.

Separately, StockNews.com downgraded B&G Foods from a hold rating to a sell rating in a report on Monday, May 9th.

B&G Foods Trading Up 1.9 %

BGS stock opened at $25.64 on Tuesday. B&G Foods has a 1-year low of $21.05 and a 1-year high of $34.27. The firm has a market cap of $1.77 billion, a P/E ratio of 26.43 and a beta of 0.26. The business’s 50 day moving average is $23.54 and its 200-day moving average is $26.55. The company has a current ratio of 3.46, a quick ratio of 1.00 and a debt-to-equity ratio of 2.50.

B&G Foods (NYSE:BGSGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). B&G Foods had a net margin of 3.08% and a return on equity of 12.91%. The company had revenue of $532.41 million during the quarter, compared to the consensus estimate of $512.02 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts anticipate that B&G Foods will post 1.64 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Thursday, June 30th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 7.41%. The ex-dividend date was Wednesday, June 29th. B&G Foods’s payout ratio is currently 195.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BGS. Janney Montgomery Scott LLC lifted its holdings in B&G Foods by 4.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 115,038 shares of the company’s stock worth $3,535,000 after buying an additional 4,373 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in B&G Foods during the 4th quarter worth $979,000. State of New Jersey Common Pension Fund D lifted its holdings in B&G Foods by 2.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 91,337 shares of the company’s stock worth $2,807,000 after buying an additional 2,239 shares in the last quarter. Yousif Capital Management LLC acquired a new position in B&G Foods during the 4th quarter worth $1,808,000. Finally, CWM LLC acquired a new position in B&G Foods during the 4th quarter worth $29,000. Institutional investors and hedge funds own 64.72% of the company’s stock.

About B&G Foods

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B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.

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