B&G Foods, Inc. (NYSE:BGS) Receives $8.30 Average Price Target from Brokerages

B&G Foods, Inc. (NYSE:BGS) has been given an average rating of “Reduce” by the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.30.

A number of equities research analysts have weighed in on the stock. Barclays decreased 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. Evercore ISI decreased their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 6th. Finally, TD Cowen dropped their price target 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.

Insiders Place Their Bets

In other B&G Foods news, EVP Eric H. Hart bought 5,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the purchase, the executive vice president now owns 88,899 shares in the company, valued at $555,618.75. This represents a 5.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Sherrill purchased 70,000 shares of B&G Foods stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $6.63 per share, for a total transaction of $464,100.00. Following the transaction, the director now owns 353,084 shares in the company, valued at $2,340,946.92. This represents a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 90,111 shares of company stock valued at $593,054. 3.20% of the stock is currently owned by insiders.

Institutional Trading of B&G Foods

A number of hedge funds and other institutional investors have recently modified their holdings of BGS. Dimensional Fund Advisors LP boosted its holdings in B&G Foods by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after acquiring an additional 485,714 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of B&G Foods by 154.0% in the 2nd quarter. AQR Capital Management LLC now owns 626,807 shares of the company’s stock valued at $5,065,000 after purchasing an additional 380,054 shares during the last quarter. Verition Fund Management LLC grew 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 worth $3,369,000 after buying an additional 368,799 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of B&G Foods during the third quarter worth approximately $1,201,000. Finally, Dana Investment Advisors Inc. lifted its holdings in B&G Foods by 23.5% in the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock valued at $5,739,000 after buying an additional 134,937 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Down 0.7 %

BGS stock opened at $6.37 on Wednesday. B&G Foods has a twelve month low of $6.12 and a twelve 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 $503.85 million, a PE ratio of -18.72 and a beta of 0.50. The business’s 50-day simple moving average is $6.90 and its 200 day simple moving average is $7.74.

B&G Foods (NYSE:BGS) last announced 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). The firm had revenue of $461.10 million for the quarter, compared to analyst estimates of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. B&G Foods’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. On average, research analysts anticipate 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.