B&G Foods, Inc. (NYSE:BGS) Stock Position Cut by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in B&G Foods, Inc. (NYSE:BGS) by 12.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 280,200 shares of the company’s stock after selling 39,115 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in B&G Foods were worth $1,931,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Verition Fund Management LLC boosted its position in shares of B&G Foods by 3,480.9% during the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock valued at $3,369,000 after purchasing an additional 368,799 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of B&G Foods during the 3rd quarter valued at about $1,201,000. Wedge Capital Management L L P NC bought a new position in shares of B&G Foods during the 4th quarter valued at about $857,000. Point72 Asset Management L.P. bought a new position in shares of B&G Foods during the 3rd quarter valued at about $962,000. Finally, Barclays PLC boosted its position in shares of B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company’s stock valued at $1,160,000 after purchasing an additional 98,824 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

NYSE BGS opened at $6.30 on Thursday. The company has a 50 day simple moving average of $6.68 and a 200-day simple moving average of $7.56. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The firm has a market capitalization of $498.31 million, a price-to-earnings ratio of -18.51 and a beta of 0.50. B&G Foods, Inc. has a 52-week low of $5.45 and a 52-week high of $11.97.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BGS. TD Cowen reduced their price objective on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating for the company in a research report on Wednesday, November 6th. Barclays decreased their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Evercore ISI decreased their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating for the company in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.30.

B&G Foods 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.