B&G Foods (NYSE:BGS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “B&G Foods, Inc. (formerly kown as B&G Foods Holdings Corp.) manufactures, sells, and distributes a portfolio of shelf-stable, and frozen food and household products in the United States, Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters, and other specialty products. The company markets its products under various brands, including Accent, B&G, B&M, Bakers Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emerils, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonalds, Mama Mary’s, Maple Grove Farms of Vermont, Molly McButter, Mrs. Dash etc. “

BGS has been the topic of a number of other reports. Berenberg Bank upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $43.50 to $40.00 in a report on Thursday, November 16th. Stephens raised shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 target price for the company in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.22.

Shares of B&G Foods (NYSE BGS) opened at $36.65 on Monday. B&G Foods has a twelve month low of $29.50 and a twelve month high of $47.75. The company has a current ratio of 3.24, a quick ratio of 1.06 and a debt-to-equity ratio of 2.34. The company has a market cap of $2,447.06, a price-to-earnings ratio of 24.27 and a beta of 0.18.

B&G Foods (NYSE:BGS) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08. B&G Foods had a net margin of 6.29% and a return on equity of 15.50%. The business had revenue of $408.40 million for the quarter, compared to analyst estimates of $391.31 million. During the same period last year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. analysts predict that B&G Foods will post 2.12 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC grew its position in shares of B&G Foods by 934.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,877 shares of the company’s stock valued at $102,000 after acquiring an additional 2,599 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of B&G Foods by 61.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,062 shares of the company’s stock worth $109,000 after buying an additional 1,162 shares during the last quarter. Advantage Investment Management LLC lifted its stake in shares of B&G Foods by 212.0% during the 3rd quarter. Advantage Investment Management LLC now owns 3,763 shares of the company’s stock worth $120,000 after buying an additional 2,557 shares during the last quarter. Sei Investments Co. lifted its stake in shares of B&G Foods by 298.9% during the 3rd quarter. Sei Investments Co. now owns 4,033 shares of the company’s stock worth $128,000 after buying an additional 3,022 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of B&G Foods by 19.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,958 shares of the company’s stock worth $141,000 after buying an additional 648 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.

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About B&G Foods

B&G Foods, Inc (B&G Foods) is a holding company. The Company manufactures, sells and distributes a portfolio of shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products.

Analyst Recommendations for B&G Foods (NYSE:BGS)

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