B&G Foods (NYSE:BGS – Get Free Report) had its price objective cut by Piper Sandler from $8.00 to $7.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 2.12% from the company’s previous close.
A number of other analysts have also recently commented on the stock. TD Cowen cut their target price on shares of 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. Barclays cut their price objective on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, 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 research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.10.
Check Out Our Latest Research Report on B&G Foods
B&G Foods Price Performance
B&G Foods (NYSE:BGS – Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. As a group, equities research analysts forecast that B&G Foods will post 0.7 earnings per share for the current year.
Hedge Funds Weigh In On B&G Foods
Hedge funds have recently bought and sold shares of the company. Creative Planning lifted its stake in shares of B&G Foods by 94.5% during the 3rd quarter. Creative Planning now owns 37,744 shares of the company’s stock worth $335,000 after purchasing an additional 18,340 shares during the period. PFG Investments LLC lifted its stake in shares of B&G Foods by 12.5% in the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after acquiring an additional 2,008 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of B&G Foods by 47.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 104,459 shares of the company’s stock valued at $947,000 after buying an additional 33,712 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of B&G Foods by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock worth $2,258,000 after purchasing an additional 4,240 shares during the last quarter. Finally, Versor Investments LP increased its holdings in B&G Foods by 13.4% in the third quarter. Versor Investments LP now owns 24,300 shares of the company’s stock valued at $216,000 after buying an additional 2,862 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.
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.
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