B&> Foods (NYSE:BGS – Get Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.08 to $1.28 for the period, compared to the consensus earnings per share estimate of $1.60. The company issued revenue guidance of $2.10 billion to $2.14 billion, compared to the consensus revenue estimate of $2.13 billion. B&> Foods also updated its FY 2022 guidance to $1.08-$1.28 EPS.
B&> Foods Stock Up 0.1 %
Shares of NYSE BGS opened at $25.33 on Friday. B&> Foods has a one year low of $21.05 and a one year high of $34.27. The company has a debt-to-equity ratio of 2.50, a current ratio of 3.46 and a quick ratio of 1.00. The business’s fifty day moving average price is $23.65 and its 200-day moving average price is $26.48. The stock has a market capitalization of $1.74 billion, a PE ratio of 26.11 and a beta of 0.26.
B&> Foods (NYSE:BGS – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.20). The company had revenue of $479.00 million for the quarter, compared to analysts’ expectations of $480.51 million. B&> Foods had a return on equity of 12.91% and a net margin of 3.08%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. On average, equities research analysts anticipate that B&> Foods will post 1.67 EPS for the current year.
B&> Foods Announces Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.90 annualized dividend and a dividend yield of 7.50%. B&> Foods’s dividend payout ratio (DPR) is presently 195.88%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on BGS. StockNews.com lowered B&> Foods from a hold rating to a sell rating in a research report on Monday, May 9th. Piper Sandler increased their price objective on B&> Foods from $23.00 to $27.00 and gave the stock a neutral rating in a report on Tuesday.
Institutional Trading of B&> Foods
Large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its position in B&> Foods by 2.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 66,492 shares of the company’s stock valued at $1,794,000 after purchasing an additional 1,688 shares in the last quarter. American Century Companies Inc. lifted its position in shares of B&> Foods by 16.5% in the first quarter. American Century Companies Inc. now owns 18,804 shares of the company’s stock valued at $507,000 after acquiring an additional 2,664 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of B&> Foods by 13.6% in the first quarter. HighTower Advisors LLC now owns 13,087 shares of the company’s stock valued at $352,000 after acquiring an additional 1,571 shares in the last quarter. Citigroup Inc. lifted its position in shares of B&> Foods by 5.7% in the first quarter. Citigroup Inc. now owns 61,601 shares of the company’s stock valued at $1,662,000 after acquiring an additional 3,303 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of B&> Foods by 56.5% in the first quarter. MetLife Investment Management LLC now owns 33,903 shares of the company’s stock valued at $915,000 after acquiring an additional 12,233 shares in the last quarter. Institutional investors own 64.72% of the company’s stock.
B&> 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, 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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