B&G Foods, Inc. (NYSE:BGS) – Research analysts at William Blair issued their Q3 2018 earnings estimates for B&G Foods in a report issued on Thursday, Zacks Investment Research reports. William Blair analyst J. Andersen expects that the company will post earnings per share of $0.65 for the quarter. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for B&G Foods’ Q4 2018 earnings at $0.46 EPS.
B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $473.70 million during the quarter, compared to the consensus estimate of $482.51 million. B&G Foods had a net margin of 13.04% and a return on equity of 17.29%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 EPS.
A number of other equities analysts have also recently issued reports on BGS. Berenberg Bank upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $43.50 to $40.00 in a research report on Thursday, November 16th. Zacks Investment Research cut shares of B&G Foods from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Buckingham Research decreased their price target on shares of 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. BMO Capital Markets restated an “outperform” rating and issued a $37.00 price target (down from $39.00) on shares of B&G Foods in a research report on Thursday, March 1st. Finally, Stephens restated a “buy” rating and issued a $35.00 price target on shares of B&G Foods in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. B&G Foods currently has a consensus rating of “Hold” and an average target price of $37.44.
B&G Foods (NYSE BGS) traded up $1.05 during mid-day trading on Monday, reaching $27.85. 1,626,913 shares of the company were exchanged, compared to its average volume of 1,360,000. The firm has a market cap of $1,850.00, a PE ratio of 21.76 and a beta of 0.19. B&G Foods has a twelve month low of $25.95 and a twelve month high of $43.10. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.91 and a current ratio of 4.40.
B&G Foods announced that its board has authorized a stock buyback program on Tuesday, March 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be given a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Wednesday, March 28th. B&G Foods’s dividend payout ratio (DPR) is currently 145.31%.
In other news, CEO Robert C. Cantwell acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was bought at an average cost of $26.42 per share, for a total transaction of $264,200.00. Following the completion of the transaction, the chief executive officer now directly owns 206,239 shares in the company, valued at approximately $5,448,834.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vanessa E. Maskal sold 8,475 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $30.00, for a total transaction of $254,250.00. Following the sale, the executive vice president now owns 102,319 shares of the company’s stock, valued at $3,069,570. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 11,075 shares of company stock valued at $293,701. Corporate insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of B&G Foods by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 25,392 shares of the company’s stock worth $904,000 after buying an additional 222 shares during the period. North Star Investment Management Corp. increased its position in shares of B&G Foods by 18.3% during the fourth quarter. North Star Investment Management Corp. now owns 9,902 shares of the company’s stock worth $348,000 after buying an additional 1,534 shares during the period. Louisiana State Employees Retirement System increased its position in shares of B&G Foods by 6.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the company’s stock worth $1,005,000 after buying an additional 1,700 shares during the period. Meadow Creek Investment Management LLC increased its position in shares of B&G Foods by 19.3% during the fourth quarter. Meadow Creek Investment Management LLC now owns 10,556 shares of the company’s stock worth $371,000 after buying an additional 1,708 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of B&G Foods by 1.5% during the fourth quarter. Teachers Advisors LLC now owns 117,906 shares of the company’s stock worth $4,144,000 after buying an additional 1,749 shares during the period. Institutional investors own 97.40% of the company’s stock.
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.
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