B&G Foods, Inc. (NYSE:BGS) Receives Average Recommendation of “Reduce” from Brokerages

B&G Foods, Inc. (NYSE:BGS) has been given a consensus recommendation of “Reduce” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.3750.

Several equities analysts have weighed in on BGS shares. TD Cowen raised their price objective on B&G Foods from $3.00 to $3.50 and gave the company 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.

Insider Buying and Selling at B&G Foods

In other news, Director Dennis M. Mullen sold 18,795 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $4.50, for a total value of $84,577.50. Following the completion of the transaction, the director directly owned 83,956 shares of the company’s stock, valued at $377,802. This represents a 18.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.00% of the stock is owned by insiders.

Institutional Trading of B&G Foods

Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of B&G Foods by 502.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock valued at $31,000 after purchasing an additional 6,207 shares during the last quarter. Triumph Capital Management purchased a new stake in B&G Foods during the third quarter worth about $34,000. Allworth Financial LP raised its position in B&G Foods by 49.5% in the third quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock worth $35,000 after acquiring an additional 2,612 shares during the period. Federated Hermes Inc. bought a new stake in B&G Foods in the second quarter worth about $35,000. Finally, Capstone Financial Advisors Inc. purchased a new position in B&G Foods in the second quarter valued at about $42,000. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Trading Down 1.0%

NYSE:BGS opened at $5.09 on Tuesday. The company has a debt-to-equity ratio of 4.29, a current ratio of 3.20 and a quick ratio of 1.30. B&G Foods has a one year low of $3.67 and a one year high of $8.06. The company has a market cap of $407.10 million, a PE ratio of -1.61 and a beta of 0.48. The firm has a 50-day moving average of $4.48 and a 200-day moving average of $4.43.

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.