B&G Foods (NYSE: BGS) Reports Quarterly Results
B&G Foods (NYSE:BGS – Get Rating) released its quarterly earnings data on Thursday. The company reported earnings per share of $0.34 for the quarter, missing the consensus estimate of $0.39 per ($0.05), MarketWatch Earnings reports. B&G Foods had a return on equity of 14.41% and a net margin of 3.28%. The company posted revenue of $532.41 million in the quarter, compared to $512.02 million expected by analysts. In the same quarter last year, the company posted EPS of $0.52. The company’s quarterly revenue increased 5.4% compared to the same quarter last year. B&G Foods updated its FY22 guidance to $1.65-$1.75 EPS.
BGS stock traded at $2.70 on Friday, hitting $24.37. 3,132,997 shares of the company were traded, with an average volume of 852,955. B&G Foods has a one-year low of $24.08 and a one-year high of $36.52. The company has a debt ratio of 2.46, a current ratio of 3.42 and a quick ratio of 0.92. The company has a market capitalization of $1.68 billion, a P/E ratio of 25.12 and a beta of 0.31. The company has a fifty-day simple moving average of $27.47 and a 200-day simple moving average of $29.89.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 2. Investors of record on Thursday, March 31 received a dividend of $0.475 per share. This represents a dividend of $1.90 on an annualized basis and a yield of 7.80%. The ex-dividend date was Wednesday, March 30. B&G Foods’ dividend payout ratio (DPR) is currently 195.88%.
Several research analysts have recently published reports on the company. Zacks Investment Research upgraded B&G Foods from a “sell” rating to a “hold” rating and set a target price of $28.00 for the company in a research report Wednesday. Credit Suisse Group cut its price target on B&G Foods from $27.00 to $26.00 and set an “underperform” rating for the company in a Wednesday, March 2 research report. BMO Capital Markets reduced its target price on B&G Foods from $36.00 to $32.00 in a Wednesday, March 2 research report. Finally, StockNews.com took over coverage of B&G Foods in a Thursday, March 31 research report. They issued a “maintaining” rating for the company.
A number of hedge funds have been buying and selling stocks recently. Thrivent Financial for Lutherans increased its position in B&G Foods by 0.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 52,814 shares of the company valued at $1,623,000 after purchasing an additional 415 shares last quarter. Kingsview Wealth Management LLC increased its position in B&G Foods by 5.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 18,582 shares of the company valued at $571,000 after purchasing an additional 902 shares last quarter. Albion Financial Group UT bought a new position in B&G Foods during Q4, valued at around $31,000. Millennium Management LLC increased its position in B&G Foods by 15.2% during the 4th quarter. Millennium Management LLC now owns 12,035 shares of the company valued at $370,000 after purchasing an additional 1,584 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in B&G Foods shares by 4.5% in the 4th quarter. Deutsche Bank AG now owns 43,012 shares in the company worth $1,322,000 after buying 1,866 more shares last quarter. 64.72% of the shares are held by institutional investors.
About B&G Foods (Get a rating)
B&G Foods, Inc manufactures, sells and distributes a portfolio of shelf stable and frozen foods, as well as 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, fruits, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican sauces, dry soups , taco shells and kits, salsas, pickles, peppers, tomato products, baking powder and baking soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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