- B&G Foods (BGS -6.5%) slides after the company's Q4 results disappointed.
- Execs say that more than half of B&G's base business sales decline during the quarter was attributable to a "challenging competitive environment" for its syrup brands.
- RBC Capital Markets is sticking with a Buy rating on BGS, although the firm trims EPS estimates and lowers its price target by $2 to $52. The long-term trend still looks favorable to RBC, despite some hiccups with Green Giant demand.
- Previously: B&G Foods misses by $0.10, misses on revenue (Feb. 23)