DA Davidson Downgrades B&G Foods to Neutral

Brokerage firm DA Davidson Downgrades its rating on B&G Foods(NYSE:BGS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by DA Davidson was issued on Aug 9, 2016.

In a different note, On Jul 29, 2016, DA Davidson said it Upgrades its rating on B&G Foods. The shares have been rated ‘Buy’ by the firm. On May 13, 2016, DA Davidson said it Downgrades its rating on B&G Foods. The shares have been rated ‘Neutral’ by the firm.

B&G Foods (BGS) made into the market gainers list on Wednesdays trading session with the shares advancing 0.32% or 0.15 points. Due to strong positive momentum, the stock ended at $47.5, which is also near the day’s high of $47.7169. The stock began the session at $47.48 and the volume stood at 4,74,271 shares. The 52-week high of the shares is $52.84 and the 52 week low is $28.12. The company has a current market capitalization of $2,976 M and it has 6,26,56,314 shares in outstanding.

B&G Foods has also declared a cash dividend of $0.4200 on Aug 2, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 31, 2016.

B&G Foods(BGS) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $306.38M. Analysts had an estimated revenue of $316.56M. Earnings per share were $0.57. Analysts had estimated an EPS of $0.46.

Several Insider Transactions has been reported to the SEC. On May 19, 2016, Scott E Lerner (EVP & General Counsel) sold 13,000 shares at $42.79 per share price.Also, 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.

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