Separately, Piper Sandler lifted their price target on shares of B&G Foods from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday.
B&G Foods Stock Down 7.5 %
Shares of B&G Foods stock traded down $1.90 during trading on Friday, hitting $23.43. 4,113,448 shares of the stock were exchanged, compared to its average volume of 1,066,966. The firm’s 50-day moving average price is $23.66 and its 200 day moving average price is $26.42. B&G Foods has a 12-month low of $21.05 and a 12-month high of $34.27. The company has a debt-to-equity ratio of 2.50, a current ratio of 3.46 and a quick ratio of 1.00. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 24.15 and a beta of 0.26.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of BGS. Allspring Global Investments Holdings LLC acquired a new position in B&G Foods in the fourth quarter valued at $979,000. State of New Jersey Common Pension Fund D increased its stake in shares of B&G Foods by 2.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 91,337 shares of the company’s stock worth $2,807,000 after acquiring an additional 2,239 shares during the period. Yousif Capital Management LLC acquired a new position in shares of B&G Foods during the fourth quarter worth about $1,808,000. CWM LLC acquired a new position in shares of B&G Foods during the fourth quarter worth about $29,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of B&G Foods by 32.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,226 shares of the company’s stock worth $253,000 after acquiring an additional 2,037 shares during the period. 64.72% of the stock is currently owned by institutional investors and hedge funds.
B&G Foods Company Profile
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, baking powder and soda, corn starch, cookies and crackers, nut clusters, and other specialty products.
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