B&G Foods (NYSE:BGS) Reaches New 12-Month Low – Time to Sell?

B&G Foods, Inc. (NYSE:BGS)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $6.01 and last traded at $6.06, with a volume of 3016692 shares trading hands. The stock had previously closed at $6.35.

Analysts Set New Price Targets

Several analysts have weighed in on BGS shares. Evercore ISI lowered their price target on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. Barclays cut their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, TD Cowen lowered their price target on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.30.

B&G Foods Trading Down 4.6 %

The stock has a 50 day moving average price of $6.88 and a 200-day moving average price of $7.73. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64.

B&G Foods (NYSE:BGS) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. During the same quarter in the prior year, the business posted $0.27 EPS. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, analysts anticipate that B&G Foods, Inc. will post 0.7 EPS for the current year.

Insider Transactions at B&G Foods

In other news, EVP Eric H. Hart purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the transaction, the executive vice president now directly owns 88,899 shares of the company’s stock, valued at $555,618.75. This trade represents a 5.96 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen Sherrill acquired 70,000 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $6.63 per share, with a total value of $464,100.00. Following the transaction, the director now directly owns 353,084 shares of the company’s stock, valued at approximately $2,340,946.92. This trade represents a 24.73 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 90,111 shares of company stock worth $593,054. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On B&G Foods

Several hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of B&G Foods during the fourth quarter valued at approximately $79,000. Proficio Capital Partners LLC purchased a new position in B&G Foods during the fourth quarter valued at $103,000. Principal Financial Group Inc. boosted its holdings in B&G Foods by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock worth $2,644,000 after acquiring an additional 10,742 shares in the last quarter. Rhumbline Advisers grew its stake in shares of B&G Foods by 1.2% in the fourth quarter. Rhumbline Advisers now owns 251,087 shares of the company’s stock worth $1,730,000 after acquiring an additional 2,898 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of B&G Foods by 5.1% during the fourth quarter. Empowered Funds LLC now owns 331,814 shares of the company’s stock valued at $2,286,000 after acquiring an additional 16,194 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.