Brokerages Set B&G Foods, Inc. (NYSE:BGS) PT at $4.38

Shares of B&G Foods, Inc. (NYSE:BGS) have earned a consensus rating of “Reduce” from the six research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $4.3750.

A number of brokerages have recently issued reports on BGS. TD Cowen lifted their target price on B&G Foods from $3.00 to $3.50 and gave the stock a “sell” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th.

B&G Foods Stock Performance

Shares of BGS opened at $5.22 on Tuesday. The company has a current ratio of 3.20, a quick ratio of 1.30 and a debt-to-equity ratio of 4.29. B&G Foods has a 12 month low of $3.67 and a 12 month high of $8.06. The firm has a fifty day simple moving average of $4.54 and a 200 day simple moving average of $4.46. The stock has a market capitalization of $417.10 million, a price-to-earnings ratio of -1.65 and a beta of 0.48.

Insiders Place Their Bets

In other news, Director Dennis M. Mullen sold 18,795 shares of B&G Foods stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $4.50, for a total value of $84,577.50. Following the completion of the sale, the director directly owned 83,956 shares in the company, valued at approximately $377,802. The trade was a 18.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On B&G Foods

Several institutional investors and hedge funds have recently bought and sold shares of BGS. Royal Bank of Canada lifted its stake in B&G Foods by 14.4% during the first quarter. Royal Bank of Canada now owns 256,421 shares of the company’s stock worth $1,761,000 after purchasing an additional 32,253 shares during the last quarter. AQR Capital Management LLC boosted its stake in B&G Foods by 5.3% in the first quarter. AQR Capital Management LLC now owns 163,781 shares of the company’s stock valued at $1,125,000 after buying an additional 8,272 shares in the last quarter. Millennium Management LLC grew its position in B&G Foods by 15,131.8% in the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after acquiring an additional 1,875,589 shares during the last quarter. Goldman Sachs Group Inc. grew its position in B&G Foods by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 706,117 shares of the company’s stock valued at $4,851,000 after acquiring an additional 155,503 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in B&G Foods by 6.6% during the first quarter. Empowered Funds LLC now owns 353,878 shares of the company’s stock worth $2,431,000 after acquiring an additional 22,064 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.