B&> Foods (NYSE:BGS – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.65-$1.75 for the period, compared to the consensus earnings per share estimate of $1.74. The company issued revenue guidance of $2.10 billion-$2.14 billion, compared to the consensus revenue estimate of $2.10 billion.
BGS stock opened at $22.50 on Thursday. B&> Foods has a 52 week low of $21.05 and a 52 week high of $36.52. The company has a quick ratio of 1.00, a current ratio of 3.46 and a debt-to-equity ratio of 2.50. The company has a fifty day simple moving average of $26.25 and a two-hundred day simple moving average of $29.25. The firm has a market capitalization of $1.55 billion, a P/E ratio of 23.20 and a beta of 0.31.
B&> Foods (NYSE:BGS – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). B&> Foods had a net margin of 3.08% and a return on equity of 12.91%. The business had revenue of $532.41 million for the quarter, compared to the consensus estimate of $512.02 million. During the same quarter last year, the business earned $0.52 EPS. B&> Foods’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that B&> Foods will post 1.65 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, June 30th will be issued a $0.475 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.90 annualized dividend and a dividend yield of 8.44%. B&> Foods’s dividend payout ratio (DPR) is presently 195.88%.
BGS has been the subject of several analyst reports. Credit Suisse Group lowered their target price on shares of B&> Foods from $27.00 to $26.00 and set an underperform rating for the company in a report on Wednesday, March 2nd. Zacks Investment Research upgraded shares of B&> Foods from a sell rating to a hold rating and set a $28.00 target price for the company in a report on Wednesday, May 4th. BMO Capital Markets lowered their target price on shares of B&> Foods from $36.00 to $32.00 in a report on Wednesday, March 2nd. Finally, StockNews.com lowered shares of B&> Foods from a hold rating to a sell rating in a report on Monday, May 9th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in B&> Foods by 16.5% during the 1st quarter. American Century Companies Inc. now owns 18,804 shares of the company’s stock valued at $507,000 after buying an additional 2,664 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in B&> Foods during the 1st quarter valued at about $390,000. Millennium Management LLC increased its position in B&> Foods by 15.2% during the 4th quarter. Millennium Management LLC now owns 12,035 shares of the company’s stock valued at $370,000 after purchasing an additional 1,584 shares during the period. Eaton Vance Management increased its position in B&> Foods by 30.6% during the 1st quarter. Eaton Vance Management now owns 13,499 shares of the company’s stock valued at $364,000 after purchasing an additional 3,161 shares during the period. Finally, Captrust Financial Advisors increased its position in B&> Foods by 8.3% during the 1st quarter. Captrust Financial Advisors now owns 13,074 shares of the company’s stock valued at $359,000 after purchasing an additional 998 shares during the period. Institutional investors own 64.72% of the company’s stock.
B&> Foods Company Profile (Get Rating)
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.
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