Brokerages Set B&G Foods, Inc. (NYSE:BGS) PT at $8.30

B&G Foods, Inc. (NYSE:BGS) has been assigned an average recommendation of “Reduce” from the five ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.30.

BGS has been the topic of a number of recent analyst reports. TD Cowen reduced their price target on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. Barclays reduced their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Evercore ISI decreased their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In other B&G Foods news, Director Stephen Sherrill acquired 70,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $6.63 per share, with a total value of $464,100.00. Following the completion of the transaction, the director now directly owns 353,084 shares in the company, valued at $2,340,946.92. This trade represents a 24.73 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Eric H. Hart bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $6.25 per share, with a total value of $31,250.00. Following the transaction, the executive vice president now owns 88,899 shares of the company’s stock, valued at $555,618.75. This represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 90,111 shares of company stock worth $593,054. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. nVerses Capital LLC boosted its holdings in shares of B&G Foods by 34.1% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock valued at $49,000 after buying an additional 1,400 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in B&G Foods by 12.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock valued at $101,000 after acquiring an additional 1,599 shares during the last quarter. PFG Investments LLC grew its position in shares of B&G Foods by 12.5% in the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock valued at $160,000 after acquiring an additional 2,008 shares during the period. Versor Investments LP increased its stake in shares of B&G Foods by 13.4% during the 3rd quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after purchasing an additional 2,862 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of B&G Foods by 1.2% in the 4th quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock valued at $1,730,000 after purchasing an additional 2,898 shares during the period. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Price Performance

Shares of BGS opened at $6.37 on Wednesday. The stock has a market cap of $503.85 million, a P/E ratio of -18.72 and a beta of 0.50. B&G Foods has a 1 year low of $6.12 and a 1 year high of $11.97. The stock’s 50-day moving average price is $6.90 and its two-hundred day moving average price is $7.74. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm had revenue of $461.10 million for the quarter, compared to the consensus estimate of $473.82 million. During the same period in the previous year, the business earned $0.27 EPS. The firm’s revenue was down 8.3% compared to the same quarter last year. On average, equities analysts predict that B&G Foods will post 0.7 earnings per share for the current year.

B&G Foods Company Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.