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

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

Several other brokerages have also recently commented on BGS. Evercore ISI raised shares of B&G Foods to a “hold” rating in a research report on Wednesday, August 7th. Barclays decreased their price target on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Friday, July 19th. Piper Sandler decreased their price objective on shares of B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price objective on shares of B&G Foods in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.88.

B&G Foods Stock Up 1.5 %

B&G Foods stock opened at $9.18 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.48 and a current ratio of 1.63. B&G Foods has a fifty-two week low of $7.20 and a fifty-two week high of $11.97. The company has a market capitalization of $725.69 million, a PE ratio of -6.38 and a beta of 0.60. The firm has a 50 day moving average price of $8.43 and a 200 day moving average price of $9.43.

B&G Foods (NYSE:BGS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. B&G Foods had a negative net margin of 5.82% and a positive return on equity of 8.07%. The company had revenue of $444.60 million during the quarter, compared to analysts’ expectations of $435.83 million. During the same quarter last year, the company posted $0.15 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. Research analysts expect that B&G Foods will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $8.33, for a total transaction of $66,640.00. Following the sale, the executive vice president now directly owns 66,095 shares in the company, valued at approximately $550,571.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On B&G Foods

Several hedge funds and other institutional investors have recently bought and sold shares of BGS. Victory Capital Management Inc. raised its stake in B&G Foods by 21.0% during the 4th quarter. Victory Capital Management Inc. now owns 22,675 shares of the company’s stock worth $238,000 after acquiring an additional 3,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in B&G Foods by 11.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock valued at $18,450,000 after purchasing an additional 181,724 shares during the period. Principal Financial Group Inc. increased its stake in B&G Foods by 5.0% in the fourth quarter. Principal Financial Group Inc. now owns 408,915 shares of the company’s stock valued at $4,294,000 after purchasing an additional 19,613 shares during the period. Boston Partners acquired a new position in B&G Foods in the fourth quarter valued at $286,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in B&G Foods in the fourth quarter valued at $124,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

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, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.