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

B&G Foods (NYSE:BGS) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other research analysts have also weighed in on BGS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. Evercore ISI upgraded shares of B&G Foods to a “hold” rating in a report on Wednesday, August 7th. Piper Sandler cut 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 report on Thursday, July 11th. Finally, Barclays cut their price objective on shares of B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.88.

B&G Foods Trading Up 1.5 %

BGS stock opened at $9.18 on Monday. The company’s 50-day simple moving average is $8.43 and its 200-day simple moving average is $9.43. The company has a quick ratio of 0.48, a current ratio of 1.63 and a debt-to-equity ratio of 2.33. B&G Foods has a 52-week low of $7.20 and a 52-week high of $11.97. The firm has a market cap of $725.69 million, a P/E ratio of -6.38 and a beta of 0.60.

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

Insider Transactions at B&G Foods

In other news, EVP Jordan E. Greenberg sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 66,095 shares in the company, valued at approximately $550,571.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.20% of the company’s stock.

Institutional Trading of B&G Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of B&G Foods by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 10,043,164 shares of the company’s stock worth $105,453,000 after buying an additional 1,190,116 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in B&G Foods by 33.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,418 shares of the company’s stock valued at $15,501,000 after purchasing an additional 485,714 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in B&G Foods by 11.5% in the 4th 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 last quarter. American Century Companies Inc. increased its holdings in B&G Foods by 71.3% in the 2nd quarter. American Century Companies Inc. now owns 1,640,354 shares of the company’s stock valued at $13,254,000 after purchasing an additional 682,688 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in B&G Foods by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,200,039 shares of the company’s stock valued at $9,696,000 after purchasing an additional 5,842 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Company Profile

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.