B&G Foods (BGS) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 57

B&G Foods (BGS) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 57 from a previous price target of $52 . RBC Capital Mkts advised their investors in a research report released on Sep 23, 2016.

Many Wall Street Analysts have commented on B&G Foods. DA Davidson Downgraded B&G Foods on Aug 9, 2016 to ” Neutral”, Price Target of the shares are set at $52.Company shares were Upgraded by DA Davidson on Jul 29, 2016 to ” Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $47 .

On the company’s financial health, B&G Foods reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.46. The company had revenue of $306.40 million for the quarter, compared to analysts expectations of $316.03 million. The company’s revenue was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

B&G Foods opened for trading at $49.98 and hit $50.81 on the upside on Thursday, eventually ending the session at $50.47, with a gain of 1.69% or 0.84 points. The heightened volatility saw the trading volume jump to 8,83,944 shares. Company has a market cap of $3,162 M.

Investors should note that on Aug 2, 2016, B&G Foods announced a cash dividend of $0.4200. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 31, 2016.

In a different news, on May 19, 2016, Scott E Lerner (EVP & General Counsel) sold 13,000 shares at $42.79 per share price. According to the SEC, on May 12, 2016, Alfred Poe (director) sold 4,920 shares at $43.55 per share price. On May 11, 2016, Thomas P Crimmins (CFO) purchased 3,500 shares at $43.61 per share price, according to the Form-4 filing with the securities and exchange commission.

B&G Foods Inc. (B&G Foods) is a holding company that manufactures sells and distributes a range of shelf-stable food and household products across the United States Canada and Puerto Rico. Its products include hot cereals fruit spreads canned meats and beans bagel chips spices seasonings hot sauces wine vinegar maple syrup molasses salad dressings 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. The Company’s products are marketed under a range of brands including Ac’cent B&G B&M Baker’s Joy Bear Creek Country Kitchens Brer Rabbit Canoleo Cary’s Cream of Rice Cream of Wheat Devonsheer Don Pepino Emeril’s Grandma’s Molasses JJ Flats Joan of Arc Las Palmas MacDonald’s Maple Grove Farms of Vermont and Molly McButter among others.

B&G Foods

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