TD Cowen Forecasts Strong Price Appreciation for B&G Foods (NYSE:BGS) Stock

B&G Foods (NYSE:BGS) had its price target increased by stock analysts at TD Cowen from $3.00 to $3.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sell” rating on the stock. TD Cowen’s price objective points to a potential downside of 20.45% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of B&G Foods in a research note on Monday, December 29th. Cowen reaffirmed a “sell” rating on shares of B&G Foods in a research note on Friday. Finally, Zacks Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $4.38.

B&G Foods Stock Down 2.0%

Shares of NYSE:BGS opened at $4.40 on Friday. The company has a market cap of $351.91 million, a price-to-earnings ratio of -1.39 and a beta of 0.40. B&G Foods has a 12 month low of $3.67 and a 12 month high of $8.06. The company has a current ratio of 3.20, a quick ratio of 1.30 and a debt-to-equity ratio of 4.29. The company has a 50-day moving average price of $4.48 and a 200 day moving average price of $4.41.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $439.30 million for the quarter, compared to analysts’ expectations of $435.47 million. B&G Foods had a positive return on equity of 8.50% and a negative net margin of 13.61%.The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. As a group, equities research analysts predict that B&G Foods will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other B&G Foods news, Director Dennis M. Mullen sold 18,795 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $377,802. The trade was a 18.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Trading of B&G Foods

Several institutional investors and hedge funds have recently modified their holdings of BGS. Ensign Peak Advisors Inc raised its holdings in shares of B&G Foods by 130.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 106,400 shares of the company’s stock valued at $450,000 after purchasing an additional 60,300 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in B&G Foods during the second quarter valued at approximately $66,000. Bank of Montreal Can increased its holdings in B&G Foods by 457.8% during the second quarter. Bank of Montreal Can now owns 80,283 shares of the company’s stock valued at $340,000 after buying an additional 65,889 shares during the period. Allianz Asset Management GmbH bought a new position in B&G Foods in the second quarter worth approximately $889,000. Finally, Nisa Investment Advisors LLC lifted its holdings in B&G Foods by 261.6% during the second quarter. Nisa Investment Advisors LLC now owns 159,670 shares of the company’s stock worth $706,000 after buying an additional 115,508 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 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.