Barclays Forecasts Strong Price Appreciation for B&G Foods (NYSE:BGS) Stock

B&G Foods (NYSE:BGS) had its price objective upped by Barclays from $4.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 8.76% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th. TD Cowen reissued a “sell” rating on shares of B&G Foods in a research note on Wednesday. Finally, Evercore set a $5.00 target price on B&G Foods in a report on Wednesday. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $4.70.

B&G Foods Trading Down 1.8%

B&G Foods stock opened at $5.48 on Thursday. The company has a current ratio of 3.32, a quick ratio of 1.30 and a debt-to-equity ratio of 4.30. B&G Foods has a 12-month low of $3.67 and a 12-month high of $8.06. The firm has a market capitalization of $438.24 million, a price-to-earnings ratio of -10.15 and a beta of 0.46. The firm has a 50 day moving average of $4.72 and a 200 day moving average of $4.57.

B&G Foods (NYSE:BGS) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. The firm had revenue of $539.56 million during the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, research analysts predict that B&G Foods will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On B&G Foods

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc raised its stake in shares of B&G Foods by 130.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 106,400 shares of the company’s stock valued at $450,000 after acquiring an additional 60,300 shares during the period. Bank of Montreal Can raised its stake in shares of B&G Foods by 457.8% in the second quarter. Bank of Montreal Can now owns 80,283 shares of the company’s stock valued at $340,000 after acquiring an additional 65,889 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of B&G Foods in the 2nd quarter valued at about $178,000. Savant Capital LLC acquired a new position in B&G Foods during the 2nd quarter worth approximately $115,000. Finally, Capstone Financial Advisors Inc. acquired a new position in shares of B&G Foods during the second quarter worth $42,000. 66.15% of the stock is currently owned by institutional investors and hedge funds.

B&G Foods Company Profile

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.