B&G Foods, Inc. (NYSE:BGS) – Piper Sandler decreased their Q2 2021 earnings per share estimates for shares of B&G Foods in a research note issued to investors on Tuesday, June 8th. Piper Sandler analyst M. Lavery now expects that the company will earn $0.46 per share for the quarter, down from their prior estimate of $0.51. Piper Sandler has a “Neutral” rating and a $31.00 price target on the stock. Piper Sandler also issued estimates for B&G Foods’ Q2 2022 earnings at $0.52 EPS, Q1 2023 earnings at $0.61 EPS and FY2023 earnings at $2.46 EPS.
B&G Foods (NYSE:BGS) last released its quarterly earnings results on Monday, May 10th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.03). B&G Foods had a net margin of 6.46% and a return on equity of 18.10%. The firm had revenue of $505.10 million during the quarter, compared to analyst estimates of $523.88 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year.
NYSE:BGS opened at $32.75 on Thursday. The company has a current ratio of 3.51, a quick ratio of 1.12 and a debt-to-equity ratio of 2.77. The firm has a 50-day moving average of $30.12. The firm has a market capitalization of $2.12 billion, a P/E ratio of 16.21 and a beta of 0.41. B&G Foods has a 52-week low of $20.63 and a 52-week high of $47.84.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Wednesday, June 30th will be issued a dividend of $0.475 per share. The ex-dividend date is Tuesday, June 29th. This represents a $1.90 annualized dividend and a dividend yield of 5.80%. B&G Foods’s dividend payout ratio (DPR) is presently 84.07%.
Several large investors have recently made changes to their positions in BGS. Comerica Bank increased its holdings in shares of B&G Foods by 0.5% during the fourth quarter. Comerica Bank now owns 68,072 shares of the company’s stock worth $2,046,000 after buying an additional 335 shares in the last quarter. Creative Planning acquired a new stake in B&G Foods in the fourth quarter valued at $223,000. Victory Capital Management Inc. increased its holdings in B&G Foods by 62.4% in the fourth quarter. Victory Capital Management Inc. now owns 169,680 shares of the company’s stock valued at $4,705,000 after purchasing an additional 65,215 shares during the period. First Trust Advisors LP increased its holdings in B&G Foods by 56.8% in the fourth quarter. First Trust Advisors LP now owns 201,682 shares of the company’s stock valued at $5,593,000 after purchasing an additional 73,078 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its holdings in B&G Foods by 4.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 74,965 shares of the company’s stock valued at $2,079,000 after purchasing an additional 3,082 shares during the period. Institutional investors own 69.98% 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, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegars, 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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