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BGS

B&G Foods

$31.40

-0.3 (-0.95%)

, MDLZ

Mondelez

$42.94

-0.47 (-1.08%)

16:14
08/20/17
08/20
16:14
08/20/17
16:14

B&G Foods to acquire Back to Nature Foods

B&G Foods (BGS) has announced that it has entered into a definitive agreement to acquire Back to Nature Foods Company from Brynwood Partners, Mondelez (MDLZ) and certain other entities and individuals for approximately $162.5M in cash, subject to customary closing and post-closing working capital adjustments. B&G Foods expects the acquisition to close during Q3 of 2017, subject to customary closing conditions, including the receipt of regulatory approvals. B&G Foods expects the acquisition to be immediately accretive to its EPS and free cash flow and projects that following the completion of a six-month integration period, the acquired business will generate on an annualized basis net sales of approximately $80M and adjusted EBITDA of approximately $17M. B&G Foods intends to fund the acquisition and related fees and expenses with additional revolving loans under its existing credit facility.

BGS

B&G Foods

$31.40

-0.3 (-0.95%)

MDLZ

Mondelez

$42.94

-0.47 (-1.08%)

  • 25

    Sep

BGS B&G Foods
$31.40

-0.3 (-0.95%)

08/07/17
BMOC
08/07/17
UPGRADE
BMOC
Outperform
B&G Foods upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst Kenneth Zaslow upgraded B&G based on valuation. Target $39.
07/25/17
RBCM
07/25/17
NO CHANGE
RBCM
B&G Foods weakness overdone, says RBC Capital
RBC Capital analyst David Palmer says that B&G Foods' 15% decline this year is overdone. The analyst says that B&G's "category exposure may be better than peers," as it is more exposed to vegetables and spices, is the leader in Hispanic food categories and has "best in class spice manufacturing capacity." The analyst believes that scanner data understates the company's recent performance and outlook,. Additionally, he believes that its 5% dividend yield has "limited risk," The analyst keeps a $52 price target and an Outperform rating on the stock.
07/20/17
07/20/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Jay Sole saying the window to buy Nike is closing as earnings and North America sales growth rates are likely troughing. 2. B&G Foods (BGS) upgraded to Buy from Neutral at Citi with analyst Cornell Burnett saying the second quarter should mark a positive inflection in organic sales after five consecutive quarters of declines. 3. HP Inc. (HPQ) upgraded to Outperform from Sector Perform at RBC Capital with analyst Amit Daryanani saying he sees a "string of beats/raises" ahead amid stabilizing PC fundamentals and market share gains as Lenovo struggles. 4. Royal Caribbean (RCL) upgraded to Overweight from Neutral at JPMorgan with analyst Joseph Greff saying he views the current valuation as "undemanding" and notes his recent channel checks suggest continued good operating momentum. 5. Buffalo Wild Wings (BWLD) upgraded to Neutral from Underperform at Wedbush with analyst Nick Setyan saying investors understand that the company could report weaker than expected results and his other concerns about the company "are well understood." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/17
SBSH
07/20/17
UPGRADE
Target $43
SBSH
Buy
B&G Foods upgraded to Buy from Neutral at Citi
Citi analyst Cornell Burnett upgraded B&G Foods to Buy saying Q2 should mark a positive inflection in organic sales after five consecutive quarters of declines. The analyst projects flat organic sales, driven by strong growth in Green Giant, and views the current valuation as "cheap." Burnett keeps a $43 price target for the shares.
MDLZ Mondelez
$42.94

-0.47 (-1.08%)

08/03/17
WELS
08/03/17
NO CHANGE
WELS
Mondelez new CEO 'unconventional' but can 'inject fresh ideas,' says Wells Fargo
After Mondolez announced that its CEO would resign and named Dirk Van de Put as her successor, Wells Fargo calls the choice "unconventional." However, the firm thinks that, as an outsider, he will be able to "inject fresh ideas." Wells keeps an Outperform rating on the shares.
07/25/17
07/25/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Mondelez (MDLZ) upgraded to Overweight from Neutral at Piper Jaffray with analyst Michael Lavery saying favorable sugar and cocoa costs provide a boost to margins. 2. Big Lots (BIG) upgraded to Buy from Hold at Deutsche Bank analyst Paul Trussell saying the current valuation is "compelling" given the disconnect between the company's "impressive" operating profit growth and multiple. 3. Werner (WERN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Ken Hoexter saying truckload utilization and rates are turning positive. 4. Atlassian (TEAM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Sanjit Singh saying has increased confidence in expansion trends of the user base and said there are clear signs of pricing power, supporting 30% topline growth and 40% free cash flow CAGR over the next 3 years. 5. DSW (DSW) upgraded to Buy from Hold at Deutsche Bank with analyst Paul Trussell saying the shares offer an "intriguing non-apparel value play." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/25/17
PIPR
07/25/17
UPGRADE
Target $49
PIPR
Overweight
Mondelez upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Michael Lavery upgraded Mondelez to Overweight and raised his price target for the shares to $49 from $48. Favorable sugar and cocoa costs provide a boost to margins, Lavery tells investors in a research note. The analyst expects the company's cash build will be applied to buybacks.
06/19/17
FBCO
06/19/17
NO CHANGE
FBCO
Hershey buy of Nestle assets could be type of 'poison pill,' says Credit Suisse
Credit Suisse analyst Robert Moskow analyzed several scenarios after Nestle's (NSRGY) recent announcement of a strategic review of its U.S. confectionery business. Buying Nestle candy would double Mondelez's (MDLZ) U.S. market share to 10%, but Moskow wonders if such a deal could compromise Mondelez' ability to eventually buy Hershey (HSY) at a later date. As for the latter, Hershey would generate "massive" synergies of 9% of sales and the deal could work as a type of "poison pill" to deter a bid from Mondelez or Kraft Heinz (KHC), said Moskow. However, he doesn't think Hershey would want to buy an asset that would dilute its topline growth rate at this point. He added that he sees "little to no chance" of Lindt, the number three in U.S. candy, being interested in Nestle's assets.

TODAY'S FREE FLY STORIES

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MNST

Monster Beverage

$66.47

-0.6 (-0.89%)

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  • 18

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MGM

MGM Resorts

$36.07

-0.47 (-1.29%)

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Wynn Resorts

$175.48

1.89 (1.09%)

16:23
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$32.26

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BANF

BancFirst

$55.20

0.95 (1.75%)

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MTOR

Meritor

$23.82

-0.3 (-1.24%)

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BANF

BancFirst

$55.20

0.95 (1.75%)

16:21
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ATHN

athenahealth

$125.53

-0.65 (-0.52%)

16:20
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  • 02

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VIX

Volatility Index S&P 500 Options

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AXP

American Express

$99.86

-0.9 (-0.89%)

16:19
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  • 18

    Jan

MRCY

Mercury Systems

$51.26

-0.45 (-0.87%)

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  • 23

    Jan

HCLP

Hi-Crush Partners

$12.00

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FFBC

First Financial Bancorp

$27.75

-0.4 (-1.42%)

16:17
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$NSD

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MCRI

Monarch Casino

$45.40

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LVS

Las Vegas Sands

$73.73

0.22 (0.30%)

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  • 24

    Jan

EPR

EPR Properties

$59.55

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GPP

Green Plains Partners

$18.00

0.1 (0.56%)

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FFBC

First Financial Bancorp

$27.75

-0.4 (-1.42%)

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  • 19

    Jan

RNR

RenaissanceRe

$121.24

-1.68 (-1.37%)

, APO

Apollo Global

$35.07

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RNR

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APO

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  • 01

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    Feb

GLPI

Gaming and Leisure Properties

$36.42

-0.34 (-0.92%)

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$NYE

NYSE Market Internals

16:16
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WYNN

Wynn Resorts

$175.48

1.89 (1.09%)

16:15
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INDB

Independent Bank

$72.45

-1.5 (-2.03%)

16:15
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  • 19

    Jan

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