Applies to a deviation of less than 1%; not applicable for per-share numbers.
The current average analyst rating on the shares is hold, with no strong buy or buy ratings, 4 hold ratings, and 1 sell or strong sell.
The average consensus recommendation for the food processing peer group is buy.
Wall Street's median 12-month price target for B&G Foods Inc. is $5.00, about 47.1% above its August 10 closing price of $3.40.
The stock recently traded at 6 times the next 12-month earnings versus a P/E of 9 three months ago.
Result drivers
Divestitures impact — The company said the net sales decline was primarily due to divestitures of Green Giant U.S. frozen, Le Sueur U.S., and Don Pepino businesses, as well as lower base business volumes.
Acquisitions and contracts — Net sales were partially offset by contributions from the Green Giant U.S. frozen co-manufacturing agreement and the College Inn and Kitchen Basics brands.
Gross margin improvement — Gross margin as a percentage of net sales increased due to acquisition of higher margin brands, divestiture of lower margin business, and tariff refunds.
BGS•
