Analysts Set B&G Foods, Inc. (NYSE:BGS) Target Price at $8.30

B&G Foods, Inc. (NYSE:BGS) has received a consensus recommendation of “Reduce” from the five research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $8.30.

Several brokerages have issued reports on BGS. Evercore ISI dropped their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 6th. Barclays lowered their target price on 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. Finally, TD Cowen decreased their price objective on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research note on Wednesday, November 6th.

Insider Activity

In other news, EVP Andrew D. Vogel purchased 7,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the purchase, the executive vice president now owns 37,064 shares in the company, valued at $235,727.04. This trade represents a 25.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Sherrill acquired 70,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average cost of $6.63 per share, for a total transaction of $464,100.00. Following the purchase, the director now directly owns 353,084 shares in the company, valued at approximately $2,340,946.92. This trade represents a 24.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On B&G Foods

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake 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 buying an additional 485,714 shares in the last quarter. Geode Capital Management LLC lifted its position in B&G Foods by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after purchasing an additional 24,995 shares during the period. Dana Investment Advisors Inc. grew its holdings in B&G Foods by 23.5% during the second quarter. Dana Investment Advisors Inc. now owns 710,244 shares of the company’s stock worth $5,739,000 after acquiring an additional 134,937 shares during the period. Gilman Hill Asset Management LLC boosted its stake in shares of B&G Foods by 5.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 636,506 shares of the company’s stock worth $5,652,000 after acquiring an additional 34,768 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position 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 worth $5,065,000 after buying an additional 380,054 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.

B&G Foods Stock Down 0.7 %

NYSE BGS opened at $6.48 on Wednesday. The business has a fifty day moving average price of $6.90 and a two-hundred day moving average price of $7.78. B&G Foods has a fifty-two week low of $6.12 and a fifty-two week high of $11.97. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.64 and a quick ratio of 0.49. The stock has a market capitalization of $512.56 million, a PE ratio of -19.04 and a beta of 0.51.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. During the same period in the prior year, the firm earned $0.27 earnings per share. B&G Foods’s revenue was down 8.3% compared to the same quarter last year. Equities analysts expect that B&G Foods will post 0.7 earnings per share for the current fiscal 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.