PFG Advisors acquired a new position in shares of B&G Foods, Inc. (NYSE:BGS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,578 shares of the company’s stock, valued at approximately $231,000.
A number of other institutional investors have also recently modified their holdings of BGS. Lord Abbett & CO. LLC bought a new stake in B&G Foods during the second quarter worth about $25,526,000. Principal Financial Group Inc. grew its stake in shares of B&G Foods by 14.3% during the third quarter. Principal Financial Group Inc. now owns 4,937,045 shares of the company’s stock valued at $157,244,000 after purchasing an additional 617,424 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of B&G Foods by 1,503.5% during the third quarter. Point72 Asset Management L.P. now owns 588,485 shares of the company’s stock valued at $18,743,000 after purchasing an additional 551,785 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of B&G Foods during the fourth quarter valued at approximately $15,266,000. Finally, Monarch Partners Asset Management LLC grew its stake in shares of B&G Foods by 185.6% during the fourth quarter. Monarch Partners Asset Management LLC now owns 563,780 shares of the company’s stock valued at $19,817,000 after purchasing an additional 366,400 shares during the last quarter. 96.23% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on BGS shares. Zacks Investment Research raised shares of B&G Foods from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, October 17th. Berenberg Bank raised shares of B&G Foods from a “hold” rating to a “buy” rating and decreased their price target for the company from $43.50 to $40.00 in a research note on Thursday, November 16th. Finally, Stephens raised shares of B&G Foods from an “equal weight” rating to an “overweight” rating and set a $39.00 price target on the stock in a research note on Wednesday, November 1st. One equities 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. B&G Foods currently has a consensus rating of “Buy” and an average target price of $40.22.
B&G Foods, Inc. (NYSE BGS) traded up $0.55 on Wednesday, hitting $32.50. 288,960 shares of the stock traded hands, compared to its average volume of 957,013. B&G Foods, Inc. has a twelve month low of $29.50 and a twelve month high of $47.75. The company has a market capitalization of $2,174.43, a PE ratio of 21.42 and a beta of 0.02. The company has a debt-to-equity ratio of 2.34, a current ratio of 3.24 and a quick ratio of 1.06.
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B&G Foods Profile
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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