B&G Foods (NYSE:BGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of many brands including B&G, B&M, Cream of Wheat, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, Mrs. Dash, New York Style, Ortega, Pirate’s Booty, Polaner, Spice Islands, Victoria and now, Back to Nature and SnackWell’s, there’s a little something for everyone. “
Several other equities analysts have also weighed in on the stock. Berenberg Bank upgraded shares of B&G Foods from a “hold” rating to a “buy” rating and reduced their price target for the company from $43.50 to $40.00 in a research report on Thursday, November 16th. Stephens upgraded shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price target for the company in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $40.22.
Large investors have recently modified their holdings of the business. Eii Capital Management Inc. boosted its position in B&G Foods by 24.2% during the third quarter. Eii Capital Management Inc. now owns 59,695 shares of the company’s stock worth $1,901,000 after purchasing an additional 11,625 shares during the period. Gilman Hill Asset Management LLC boosted its position in B&G Foods by 4.0% during the third quarter. Gilman Hill Asset Management LLC now owns 140,960 shares of the company’s stock worth $4,490,000 after purchasing an additional 5,370 shares during the period. Schwab Charles Investment Management Inc. boosted its position in B&G Foods by 5.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 475,959 shares of the company’s stock worth $15,160,000 after purchasing an additional 24,990 shares during the period. National Investment Services Inc. WI lifted its holdings in shares of B&G Foods by 16.2% in the fourth quarter. National Investment Services Inc. WI now owns 24,712 shares of the company’s stock worth $869,000 after buying an additional 3,438 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of B&G Foods by 2.0% in the third quarter. Rhumbline Advisers now owns 133,140 shares of the company’s stock worth $4,241,000 after buying an additional 2,638 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.
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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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