B&G Foods (NYSE:BGS – Get Rating) was downgraded by analysts at Consumer Edge from an "equal weight" rating to an "underweight" rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $9.00 target price on the stock. Consumer Edge's price target would indicate a potential downside of 30.72% from the company's current price.
A number of other research analysts have also commented on BGS. StockNews.com started coverage on shares of B&G Foods in a research note on Wednesday, October 12th. They issued a "sell" rating on the stock. Seaport Res Ptn reiterated a "neutral" rating on shares of B&G Foods in a research note on Friday, August 5th. Credit Suisse Group decreased their price target on shares of B&G Foods from $14.50 to $12.50 and set an "underperform" rating on the stock in a research note on Thursday, November 10th. BMO Capital Markets decreased their price target on shares of B&G Foods from $21.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, November 10th. Finally, Royal Bank of Canada decreased their price target on shares of B&G Foods from $24.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Friday, November 11th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $15.70.
Get B&G Foods alerts:B&G Foods Stock Up 5.4 %
Shares of BGS stock opened at $12.99 on Thursday. The company has a debt-to-equity ratio of 2.88, a quick ratio of 0.98 and a current ratio of 3.27. The firm's 50-day moving average is $14.94 and its 200-day moving average is $20.03. The stock has a market cap of $930.97 million, a price-to-earnings ratio of -23.20 and a beta of 0.32. B&G Foods has a 52-week low of $12.17 and a 52-week high of $34.27.
Insider Transactions at B&G Foods
In other news, Director Alfred Poe sold 13,875 shares of the company's stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $20.66, for a total transaction of $286,657.50. Following the completion of the sale, the director now owns 34,007 shares of the company's stock, valued at approximately $702,584.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Alfred Poe sold 13,875 shares of the company's stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $20.66, for a total transaction of $286,657.50. Following the completion of the sale, the director now owns 34,007 shares of the company's stock, valued at approximately $702,584.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David L. Wenner purchased 20,000 shares of the business's stock in a transaction dated Monday, November 14th. The shares were purchased at an average cost of $14.01 per share, with a total value of $280,200.00. Following the acquisition, the director now owns 760,392 shares in the company, valued at approximately $10,653,091.92. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.Hedge Funds Weigh In On B&G Foods
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tompkins Financial Corp bought a new position in B&G Foods in the 1st quarter valued at approximately $27,000. Prospera Financial Services Inc bought a new position in B&G Foods in the 1st quarter valued at approximately $34,000. CoreCap Advisors LLC bought a new position in B&G Foods in the 2nd quarter valued at approximately $38,000. Wellington Shields Capital Management LLC bought a new position in B&G Foods in the 1st quarter valued at approximately $47,000. Finally, Ancora Advisors LLC bought a new position in B&G Foods in the 1st quarter valued at approximately $60,000. Institutional investors own 66.73% of the company's stock.
About B&G Foods
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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, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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