B&G Foods, Inc. (NYSE:BGS) Receives $4.38 Consensus Target Price from Analysts

B&G Foods, Inc. (NYSE:BGS) has been given an average recommendation of “Reduce” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.3750.

BGS has been the topic of a number of analyst reports. TD Cowen boosted their price objective on shares of B&G Foods from $3.00 to $3.50 and gave the company a “sell” rating in a research report on Friday, January 16th. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th.

Insider Buying and Selling at B&G Foods

In related news, Director Dennis M. Mullen sold 18,795 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $4.50, for a total transaction of $84,577.50. Following the completion of the transaction, the director owned 83,956 shares in the company, valued at $377,802. This represents a 18.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BGS. 1060 Capital LLC purchased a new stake in shares of B&G Foods in the 4th quarter worth about $1,828,000. Charles Schwab Investment Management Inc. raised its stake in B&G Foods by 26.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,377,381 shares of the company’s stock worth $14,523,000 after buying an additional 705,958 shares in the last quarter. State Street Corp lifted its holdings in B&G Foods by 0.4% in the fourth quarter. State Street Corp now owns 1,785,998 shares of the company’s stock worth $8,014,000 after buying an additional 7,917 shares during the period. Wells Fargo & Company MN boosted its position in B&G Foods by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 145,457 shares of the company’s stock valued at $625,000 after acquiring an additional 25,101 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in B&G Foods by 30.2% during the 4th quarter. Quadrant Capital Group LLC now owns 27,880 shares of the company’s stock valued at $120,000 after acquiring an additional 6,468 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Trading Down 0.1%

Shares of BGS stock opened at $5.22 on Tuesday. The business has a 50-day moving average of $4.53 and a 200 day moving average of $4.45. The company has a debt-to-equity ratio of 4.29, a current ratio of 3.20 and a quick ratio of 1.30. B&G Foods has a 1-year low of $3.67 and a 1-year high of $8.06. The stock has a market capitalization of $417.10 million, a PE ratio of -1.65 and a beta of 0.48.

B&G Foods Company Profile

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.