Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. B&G Foods Inc. shares valued at $286,658 were sold by POE ALFRED on Sep 13. At $20.66 per share, POE ALFRED sold 13,875 shares. The insider’s holdings dropped to 34,007 shares worth approximately $0.63 million following the completion of this transaction.
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As published in a research note from Piper Sandler on June 14, 2022, B&G Foods Inc. [BGS] has been rated up from an Underweight to a Neutral and the price target has been revised to $23 from $25. This represents a 19.57% premium over Wednesday’s closing price. Analysts at Piper Sandler downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early November. As of March 22, 2021, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for BGS. Earlier on January 20, 2021, Stephens initiated its rating. Their recommendation was “an Equal-weight” for BGS stock.
Analyzing BGS’s Price Performance
On Wednesday, B&G Foods Inc. [NYSE: BGS] rose 2.83% to $18.50. The stock’s lowest price that day was $18.17, but it reached a high of $18.8298 in the same session. During the last five days, there has been a drop of approximately -9.05%. Over the course of the year, B&G Foods Inc. shares have dropped approximately -39.80%. Shares of the company reached a 52-week high of $34.27 on 01/12/22 and a 52-week low of $17.86 on 09/20/22. A 50-day SMA is recorded $22.64, while a 200-day SMA reached $26.42. Nevertheless, trading volume fell to 1.05 million shares from 1.39 million shares the previous day.
Support And Resistance Levels for B&G Foods Inc. (BGS)
According to the 24-hour chart, there is a support level at 18.17, which, if violated, would cause prices to drop to 17.84. In the upper region, resistance lies at 18.83. The next price resistance is at 19.16. RSI (Relative Strength Index) is 30.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.61, which suggests the price will decrease in the coming days. Percent R is at 82.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is B&G Foods Inc. subject to short interest?
Stocks of B&G Foods Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.36 million shares to 12.09 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.73 million shares. A jump of 2.98% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.41 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.41.
Which companies own the most shares of B&G Foods Inc. (BGS)?
According to BlackRock Fund Advisors filings, the company currently owns 10,383,962 shares, which is about 14.49% of the total BGS shares outstanding. The investor’s shares have appreciated by 670,673 from its previous 13-F filing of 9713289.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $172,889,882. SSgA Funds Management, Inc. acquire a 8.50% interest valued at $81.09 million while Geode Capital Management LLC purchased a 110,473 stake. A total of 20,195 shares of B&G Foods Inc. were bought by Morgan Stanley Smith Barney LLC during the quarter, and -13,904 were sold by Dimensional Fund Advisors LP. In its current portfolio, Victory Capital Management, Inc. holds 1,032,272 shares valued at $22.36 million.
In terms of B&G Foods Inc. share price expectations, FactSet research, analysts set an average price target of $22.00 in the next 12 months, up nearly 22.29% from the previous closing price of $17.99. Analysts anticipate B&G Foods Inc. stock to reach $24.00 by 2022, with the lowest price target being $20.00. In spite of this, 9 analysts ranked B&G Foods Inc. stock as a Hold at the end of 2022. On January 05, 2021, Credit Suisse assigned a price target of “an Underperform” to the stock and downgraded coverage with a $25.