B&G Foods, Inc. (NYSE:BGS) Receives Average Rating of "Reduce" from Brokerages

Shares of B&G Foods, Inc. (NYSE:BGS - Get Free Report) have earned an average rating of "Reduce" from the five ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.30.

BGS has been the topic of a number of research reports. TD Cowen dropped their price objective on B&G Foods from $8.00 to $7.50 and set a "sell" rating on the stock in a report on Wednesday, November 6th. Barclays dropped their price target on shares of B&G Foods from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Thursday, November 7th. Finally, Evercore ISI decreased their price objective 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.

B&G Foods Stock Down 0.7 %

Shares of B&G Foods stock traded down $0.05 on Wednesday, hitting $6.48. 1,279,011 shares of the company traded hands, compared to its average volume of 1,148,166. B&G Foods has a 12-month low of $6.12 and a 12-month high of $11.97. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The company has a market cap of $512.56 million, a PE ratio of -19.04 and a beta of 0.51. The company has a 50-day moving average price of $6.90 and a 200 day moving average price of $7.78.

B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The firm had revenue of $461.10 million during the quarter, compared to analysts' expectations of $473.82 million. During the same quarter last year, the firm earned $0.27 EPS. The business's revenue for the quarter was down 8.3% compared to the same quarter last year. Sell-side analysts predict that B&G Foods will post 0.7 earnings per share for the current year.

Insider Activity at B&G Foods

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in B&G Foods by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company's stock worth $15,501,000 after buying an additional 485,714 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in B&G Foods by 6.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 173,916 shares of the company's stock valued at $1,405,000 after acquiring an additional 10,761 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of B&G Foods by 154.0% during the 2nd quarter. AQR Capital Management LLC now owns 626,807 shares of the company's stock worth $5,065,000 after purchasing an additional 380,054 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of B&G Foods by 13.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,050 shares of the company's stock worth $243,000 after purchasing an additional 3,583 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of B&G Foods by 280.2% during the second quarter. Algert Global LLC now owns 55,167 shares of the company's stock valued at $446,000 after purchasing an additional 40,657 shares during the period. Institutional investors own 66.15% of the company's stock.

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.