B&G Foods, Inc. (NYSE:BGS) Receives $4.38 Consensus Target Price from Analysts

Shares of B&G Foods, Inc. (NYSE:BGS) have earned an average recommendation of “Reduce” from the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.3750.

BGS has been the subject of several recent research reports. TD Cowen lifted their price target on B&G Foods from $3.00 to $3.50 and gave the company a “sell” rating in a research report on Friday, January 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th.

Insider Transactions at B&G Foods

In other B&G Foods news, Director Dennis M. Mullen sold 18,795 shares of the company’s stock in a transaction 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 sale, the director directly owned 83,956 shares in the company, valued at $377,802. This represents a 18.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted 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 acquiring an additional 6,207 shares during the period. Triumph Capital Management purchased a new position in B&G Foods in the 3rd quarter valued at approximately $34,000. Allworth Financial LP increased its stake in B&G Foods by 49.5% in the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock valued at $35,000 after purchasing an additional 2,612 shares in the last quarter. Federated Hermes Inc. purchased a new stake in B&G Foods during the second quarter worth $35,000. Finally, Capstone Financial Advisors Inc. purchased a new stake in B&G Foods during the second quarter worth $42,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

BGS opened at $5.24 on Tuesday. The company has a market cap of $418.70 million, a P/E ratio of -1.66 and a beta of 0.48. The company has a quick ratio of 1.30, a current ratio of 3.20 and a debt-to-equity ratio of 4.29. The firm’s 50-day moving average price is $4.51 and its 200-day moving average price is $4.44. B&G Foods has a 52-week low of $3.67 and a 52-week high of $8.06.

About B&G Foods

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.