B&G Foods, Inc. (NYSE:BGS) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in B&G Foods, Inc. (NYSE:BGS) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,200 shares of the company’s stock after selling 39,115 shares during the period. Kornitzer Capital Management Inc. KS owned 0.35% of B&G Foods worth $1,931,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in B&G Foods by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,803,408 shares of the company’s stock valued at $16,018,000 after acquiring an additional 24,995 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of B&G Foods by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 383,814 shares of the company’s stock worth $2,644,000 after purchasing an additional 10,742 shares during the period. Verition Fund Management LLC raised its holdings in shares of B&G Foods by 3,480.9% during the third quarter. Verition Fund Management LLC now owns 379,394 shares of the company’s stock worth $3,369,000 after purchasing an additional 368,799 shares during the period. Empowered Funds LLC raised its holdings in shares of B&G Foods by 5.1% during the fourth quarter. Empowered Funds LLC now owns 331,814 shares of the company’s stock worth $2,286,000 after purchasing an additional 16,194 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of B&G Foods by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock worth $2,258,000 after purchasing an additional 4,240 shares during the period. 66.15% of the stock is owned by institutional investors and hedge funds.

B&G Foods Stock Up 5.4 %

BGS stock opened at $6.30 on Thursday. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $11.97. The firm’s 50-day simple moving average is $6.68 and its 200 day simple moving average is $7.56. The stock has a market cap of $498.31 million, a PE ratio of -18.51 and a beta of 0.50.

Analyst Ratings Changes

BGS has been the topic of a number of research reports. Barclays dropped their target price on shares of B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Evercore ISI dropped their target price on shares of B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen dropped their target price on shares of B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.30.

B&G Foods Profile

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., 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, and wine vinegar.