B&G Foods (NYSE:BGS) Reaches New 52-Week Low - Should You Sell?

B&G Foods, Inc. (NYSE:BGS - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.01 and last traded at $6.06, with a volume of 3016692 shares changing hands. The stock had previously closed at $6.35.

Wall Street Analyst Weigh In

BGS has been the subject of several recent research reports. TD Cowen reduced their target price on shares of B&G Foods from $8.00 to $7.50 and set a "sell" rating for the company in a report on Wednesday, November 6th. Barclays reduced their price objective on B&G Foods from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Thursday, November 7th. Finally, Evercore ISI dropped their target price on B&G Foods from $10.00 to $9.00 and set an "in-line" rating on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $8.30.

B&G Foods Stock Performance

The stock has a fifty day moving average of $6.85 and a 200-day moving average of $7.70. 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 stock has a market capitalization of $444.48 million, a PE ratio of -16.51 and a beta of 0.50.

Insider Transactions at B&G Foods

In other B&G Foods news, EVP Eric H. Hart purchased 5,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the purchase, the executive vice president now directly owns 88,899 shares in the company, valued at approximately $555,618.75. This trade represents a 5.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew D. Vogel acquired 7,500 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the executive vice president now owns 37,064 shares of the company's stock, valued at $235,727.04. This trade represents a 25.37 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On B&G Foods

Several institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC raised its stake in shares of B&G Foods by 34.1% during the third quarter. nVerses Capital LLC now owns 5,500 shares of the company's stock worth $49,000 after purchasing an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of B&G Foods by 50.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company's stock worth $55,000 after acquiring an additional 2,658 shares during the period. Independent Wealth Network Inc. acquired a new position in shares of B&G Foods during the fourth quarter worth about $77,000. SBI Securities Co. Ltd. purchased a new position in B&G Foods during the fourth quarter worth about $79,000. Finally, Regent Peak Wealth Advisors LLC acquired a new stake in B&G Foods in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 66.15% of the company's stock.

About B&G Foods

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.