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

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. “

Several other research analysts also recently weighed in on BGS. Buckingham Research raised B&G Foods from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, August 23rd. Stephens raised B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a research note on Wednesday, November 1st. Finally, Berenberg Bank raised B&G Foods from a “hold” rating to a “buy” rating and reduced their price objective for the company from $43.50 to $40.00 in a research note on Thursday, November 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $40.22.

Shares of B&G Foods (NYSE BGS) traded down $0.65 during mid-day trading on Thursday, hitting $34.25. The stock had a trading volume of 2,870,409 shares, compared to its average volume of 863,671. 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 firm has a market cap of $2,403.84, a P/E ratio of 19.75 and a beta of 0.18. B&G Foods has a twelve month low of $29.50 and a twelve month high of $47.75.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC acquired a new position in B&G Foods in the 3rd quarter valued at $490,000. Cetera Advisor Networks LLC grew its holdings in B&G Foods by 29.4% in the 3rd quarter. Cetera Advisor Networks LLC now owns 10,137 shares of the company’s stock valued at $320,000 after buying an additional 2,303 shares in the last quarter. Eii Capital Management Inc. grew its holdings in B&G Foods by 24.2% in the 3rd quarter. Eii Capital Management Inc. now owns 59,695 shares of the company’s stock valued at $1,901,000 after buying an additional 11,625 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in B&G Foods by 49.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 178,215 shares of the company’s stock valued at $5,676,000 after buying an additional 58,618 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in B&G Foods by 7.8% in the 3rd quarter. California Public Employees Retirement System now owns 75,924 shares of the company’s stock valued at $2,418,000 after buying an additional 5,524 shares in the last quarter. 94.13% of the stock is owned by hedge funds and other institutional investors.

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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.

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