B&G Foods, Inc. (NYSE:BGS – Get Rating) – Jefferies Financial Group dropped their Q4 2022 earnings per share (EPS) estimates for B&G Foods in a research report issued to clients and investors on Thursday, September 15th. Jefferies Financial Group analyst R. Dickerson now expects that the company will earn $0.34 per share for the quarter, down from their previous forecast of $0.42. The consensus estimate for B&G Foods’ current full-year earnings is $1.14 per share. Jefferies Financial Group also issued estimates for B&G Foods’ Q1 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.45 EPS, Q4 2023 earnings at $0.40 EPS and Q1 2024 earnings at $0.40 EPS.
Several other equities research analysts also recently commented on the company. Piper Sandler boosted their target price on B&G Foods from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. StockNews.com downgraded B&G Foods from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of B&G Foods in a report on Friday, August 5th. BMO Capital Markets lowered their price target on B&G Foods from $29.00 to $21.00 and set a “market perform” rating on the stock in a report on Monday, August 8th. Finally, Credit Suisse Group lowered their price target on B&G Foods to $20.00 in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.67.
B&G Foods Trading Down 4.3 %
B&G Foods (NYSE:BGS – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.20). B&G Foods had a return on equity of 10.12% and a net margin of 1.90%. The company had revenue of $479.00 million during the quarter, compared to the consensus estimate of $480.51 million. During the same period last year, the firm posted $0.41 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year.
B&G Foods Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date is Thursday, September 29th. B&G Foods’s dividend payout ratio (DPR) is presently 322.03%.
Insider Activity at B&G Foods
In related news, Director Alfred Poe sold 13,875 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $20.66, for a total transaction of $286,657.50. Following the completion of the sale, the director now owns 34,007 shares in the company, valued at $702,584.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.
Institutional Trading of B&G Foods
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in B&G Foods by 0.9% in the first quarter. BlackRock Inc. now owns 10,408,608 shares of the company’s stock worth $280,825,000 after buying an additional 90,632 shares in the last quarter. Vanguard Group Inc. increased its position in B&G Foods by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,548,293 shares of the company’s stock worth $203,653,000 after buying an additional 132,095 shares in the last quarter. State Street Corp increased its position in B&G Foods by 8.5% in the second quarter. State Street Corp now owns 3,743,964 shares of the company’s stock worth $90,719,000 after buying an additional 293,363 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in B&G Foods by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,444,603 shares of the company’s stock worth $44,393,000 after buying an additional 57,780 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in B&G Foods by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,079,541 shares of the company’s stock worth $33,174,000 after buying an additional 11,158 shares in the last quarter. Hedge funds and other institutional investors own 66.73% of the company’s stock.
B&G Foods Company Profile
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.
- Get a free copy of the StockNews.com research report on B&G Foods (BGS)
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