According to a report made public on Thursday, equity research analysts working for StockNews.com have begun monitoring B&G Foods (NYSE: BGS).
The corporation advised its shareholders to “sell” their stock in the company.
The most recent quarterly earnings report for B&G Foods, traded on the New York Stock Exchange under the ticker symbol “BGS,” was released on February 28th.
The company reported earnings per share at $0.40, $0.17 higher than the average estimate of $0.23.
The revenue forecasts provided by the analysts for the following quarter ranged from $583.86 million to $623.23 million.
B&G Foods had an 8.97% return on equity, but their net margin was -0.53%, putting them in the red. Compared to the same quarter from the previous year, the current quarter’s revenue increase was 9.0% higher than the previous year’s.
Earnings per share for the company were $0.39 for the same period last year compared to the same period.
According to the forecasts provided by analysts, B&G Foods should be able to generate earnings of $1.03 per share for the current financial year.
When trading on Thursday began, the price of BGS had been set at $15.02 per share.
The company’s simple moving average price over the past 50 days is $13.70, and the company’s simple moving average price over the last 200 days is $14.75.
There is an equity-to-debt ratio of 2.70 times as high, a quick ratio of 1.08 times as high, and a current ratio of 3.75 times as high.
The company’s current market capitalization is 1.08 billion dollars, its price-to-earnings ratio is 100.13, and its beta value is 0.44.
B&G Foods hit an all-time low of $10.91 during its 52-week trading period, while the company reached an all-time high of $29.33 during the same period.
Additionally, in a research note published on December 1st, Consumer Edge changed its rating on shares of B&G Foods from “equal weight” to “underweight” and assigned a price objective of $9.00 per share for the stock.
Three financial analysts have suggested that investors sell the stock, while four others have suggested that investors keep it as part of their portfolio.
The information provided by Bloomberg indicates that the company has been rated “Hold” and that the general price objective for the business has been established at $15.70.
In other news, on Friday, March 10th, Bruce C. Wacha, Chief Financial Officer of the company, sold 12,500 shares of company stock.
This was disclosed in a press release.
The stock was bought and sold for a total value of $185,125, with the average price per share being $14.81.
This resulted in revenue for the company. Following the successful conclusion of the transaction, the chief financial officer now directly owns 46,491 company shares, which have a combined value of $688,531.71.
If you follow this link, you will be taken to the SEC filing in which the sale was disclosed.
Please click on the link to proceed.
Business insiders currently hold a stake in the company equal to 2.70 percent of its total ownership.
Hedge funds have recently altered how they keep their positions in the company to better suit their needs.
During the first quarter, Rodgers Brothers INC increased B&G Foods stock by 2.4%, bringing its total ownership to 100%. Following the acquisition of an additional 615 shares during the most recent fiscal quarter of the company’s history, Rodgers Brothers INC now holds a total of 25,740 shares, estimated at $694,000.
M Holdings Securities INC raised the amount of B&G Foods stock it invested by 4.00% during the second quarter. Following the purchase of 754 additional shares during the most recent quarter, M Holdings Securities INC now directly owns 19,548 shares of the company’s stock, valued at $465,000.
This gives the company a total asset value of $465,000.
During the third quarter, Commerce Bank increased the amount of B&G Foods stock owned by 8.1%, bringing its total ownership to 100%.
After purchasing an additional 818 shares during the most recent quarter, Commerce Bank now owns 10,953 shares in the company, which have a value of $180,000.
These shares were acquired during the most recent quarter.
During the third quarter, CWM LLC achieved a 35.2% increase in the proportion of B&G Foods stock it owned.
Because of the purchase of 829 additional shares during the most recent quarter, CWM LLC is now the company’s direct owner of 3,183 shares.
These shares are currently valued at $52,000 thanks to acquiring additional shares.
And finally, during the third quarter, Belpointe Asset Management LLC increased the number of B&G Foods shares it already held in its portfolio by 3.8%.
Belpointe Asset Management LLC now holds 26,398 shares of the company’s stock, which has a value of $436,000 after purchasing 956 additional shares during the most recent fiscal quarter (up from 25,397 last quarter).
Institutional investors and hedge funds collectively own 63.71% of the total number of shares in the company, making up the majority of the shareholders.