B&G Foods (NYSE:BGS) Rating Lowered to Sell at StockNews.com

B&G Foods (NYSE:BGS) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other research analysts have also weighed in on BGS. Barclays cut their price objective on shares of B&G Foods from $15.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, October 12th. Piper Sandler lowered shares of B&G Foods from a “neutral” rating to an “underweight” rating and cut their price target for the company from $14.00 to $8.00 in a report on Tuesday, October 3rd. TD Cowen cut their price target on shares of B&G Foods from $10.00 to $9.50 and set an “underperform” rating on the stock in a report on Tuesday, September 19th. Finally, TheStreet lowered shares of B&G Foods from a “c-” rating to a “d+” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $9.13.

B&G Foods Price Performance

Shares of NYSE BGS opened at $8.32 on Friday. The stock has a market cap of $601.47 million, a price-to-earnings ratio of -14.60 and a beta of 0.53. B&G Foods has a 52 week low of $7.20 and a 52 week high of $16.68. The company’s 50-day moving average price is $9.40 and its 200 day moving average price is $12.12. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 2.30.

B&G Foods (NYSE:BGS) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. B&G Foods had a negative net margin of 2.11% and a positive return on equity of 9.23%. The company had revenue of $502.73 million for the quarter, compared to analysts’ expectations of $505.34 million. During the same period last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that B&G Foods will post 1 earnings per share for the current fiscal year.

Institutional Trading of B&G Foods

A number of hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of B&G Foods by 203.4% during the first quarter. Fifth Third Bancorp now owns 1,702 shares of the company’s stock worth $26,000 after buying an additional 1,141 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in B&G Foods by 124.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the company’s stock worth $29,000 after purchasing an additional 1,039 shares during the period. State of Wyoming acquired a new position in B&G Foods in the second quarter worth $30,000. Nomura Asset Management Co. Ltd. boosted its holdings in B&G Foods by 117.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $31,000 after purchasing an additional 1,080 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in B&G Foods in the first quarter worth $33,000. Hedge funds and other institutional investors own 63.15% of the company’s stock.

About B&G Foods

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, cookies and crackers, corn starch, nut clusters, and other specialty products.