A Guide To The Risks Of Investing In B&G Foods Inc. (BGS)


B&G Foods Inc.’s filing revealed that its Director Wenner David L acquired Company’s shares for reported $0.28 million on Nov 14. In the deal valued at $14.01 per share,20,000 shares were bought. As a result of this transaction, Wenner David L now holds 760,392 shares worth roughly $ 12.08 million.

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Then, POE ALFRED sold 13,875 shares, generating $286,658 in total proceeds. Upon selling the shares at $20.66, the Director now owns 34,007 shares.

Consumer Edge Research downgraded its B&G Foods Inc. [BGS] rating to an Underweight from a an Equal weight in a research note published on Friday. PT values the company’s stock at a premium of -76.44 to its Friday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in mid June from “an Underweight” to “a Neutral”. Piper Sandler also remained covering BGS and has decreased its forecast on November 05, 2021 with a “an Underweight” recommendation from previously “Neutral” rating. Piper Sandler revised its rating on March 22, 2021. It rated BGS as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of BGS

On Friday, B&G Foods Inc. [NYSE:BGS] saw its stock jump 1.66% to $15.88. On the same session, the stock had its day’s lowest price of $15.23, but rose to a high of $16.13. Over the last five days, the stock has gained 26.13%. B&G Foods Inc. shares have risen nearly 42.42% since the year began. Nevertheless, the stocks have fallen -45.80% over the past one year. While a 52-week high of $30.69 was reached on 03/01/23, a 52-week low of $10.91 was recorded on 01/04/23. SMA at 50 days reached $13.07, while 200 days put it at $17.86. A total of 1.44 million shares were traded, compared to the trading of 2.44 million shares in the previous session.

Levels Of Support And Resistance For BGS Stock

The 24-hour chart illustrates a support level at 15.36, which if violated will result in even more drops to 14.85. On the upside, there is a resistance level at 16.26. A further resistance level may holdings at 16.65. The Relative Strength Index (RSI) on the 14-day chart is 68.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.73, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.26%. Stochastics %K at 86.83% indicates the stock is a selling.

How much short interest is there in B&G Foods Inc.?

A steep rise in short interest was recorded in B&G Foods Inc. stocks on Jan 12, 2023, dropping by -1.18 million shares to a total of 11.53 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 12.71 million shares. There was a decline of -10.23%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 22.14% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.5.

B&G Foods Inc. [BGS] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 11,201,713 shares, or roughly 15.63% of the outstanding BGS shares. In other words, the investor’s shares have risen by 817,751 from its previous 13-F filing of 10383962.0. Additionally, The Vanguard Group, Inc. increased 5.08% of its stake after which the total value it holdings stand at $124,219,766, while SSgA Funds Management, Inc. reduced -27.60% of its stake to hold $38.87 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 69,006 shares of B&G Foods Inc., while Charles Schwab Investment Managem bought 149,133 shares. At present, Dimensional Fund Advisors LP is holding 850,739 shares valued at $11.93 million. Citadel Advisors LLC owned 829,727 shares of the company at the time of its most recent 13F filing, worth $11.63 million.

According to FactSet, B&G Foods Inc.’s share price will average $13.79 in the next year, based on opinions of analysts polled by the firm. This is down nearly -10.37 percent from its previous closing price of $15.62. Analysts expect B&G Foods Inc. stock to reach the higher price of $16.00, while the lowest price estimate is $11.00. However, 8 analysts have rated BGS stock as an Underweight in their predictions for 2023. The most recent change occurred on January 20, 2021 when Stephens began covering the stock and recommended ‘”an Equal-weight”‘ rating along with a $27 price target.


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