B&G Foods (NYSE:BGS) Hits New 12-Month Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

B&G Foods Stock Performance

The company’s 50 day simple moving average is $6.87 and its 200 day simple moving average is $7.72. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.49 and a current ratio of 1.64. The stock has a market cap of $461.90 million, a PE ratio of -17.16 and a beta of 0.50.

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

Insider Buying and Selling

In other B&G Foods news, EVP Andrew D. Vogel bought 7,500 shares of B&G Foods stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average price of $6.36 per share, for a total transaction of $47,700.00. Following the completion of the purchase, the executive vice president now directly owns 37,064 shares of the company’s stock, valued at approximately $235,727.04. This trade represents a 25.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 acquired at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the purchase, the executive vice president now directly owns 88,899 shares in the company, valued at $555,618.75. This represents a 5.96 % increase in their position. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On B&G Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC raised its stake in shares of B&G Foods by 34.1% during the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock valued at $49,000 after purchasing an additional 1,400 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of B&G Foods by 12.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 14,647 shares of the company’s stock worth $101,000 after buying an additional 1,599 shares in the last quarter. PFG Investments LLC increased its holdings in B&G Foods by 12.5% during the 3rd quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after acquiring an additional 2,008 shares during the period. PNC Financial Services Group Inc. grew its position in shares of B&G Foods by 50.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,913 shares of the company’s stock valued at $55,000 after purchasing an additional 2,658 shares in the last quarter. Finally, Versor Investments LP grew its position in B&G Foods by 13.4% during the third quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after buying an additional 2,862 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.