State Board of Administration of Florida Retirement System lessened its holdings in shares of B&G Foods, Inc. (NYSE:BGS) by 21.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 38,160 shares of the company’s stock after selling 10,544 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.06% of B&G Foods worth $1,103,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can lifted its position in shares of B&G Foods by 1.3% during the 4th quarter. Bank of Montreal Can now owns 34,352 shares of the company’s stock worth $993,000 after purchasing an additional 430 shares during the last quarter. State of Alaska Department of Revenue increased its stake in B&G Foods by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 30,849 shares of the company’s stock valued at $890,000 after acquiring an additional 455 shares during the period. Hanson & Doremus Investment Management increased its stake in B&G Foods by 17.1% during the fourth quarter. Hanson & Doremus Investment Management now owns 3,387 shares of the company’s stock valued at $98,000 after acquiring an additional 495 shares during the period. Belpointe Asset Management LLC increased its stake in B&G Foods by 7.1% during the third quarter. Belpointe Asset Management LLC now owns 7,779 shares of the company’s stock valued at $214,000 after acquiring an additional 513 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in B&G Foods by 15.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,305 shares of the company’s stock valued at $124,000 after acquiring an additional 573 shares during the period. 96.31% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on BGS shares. Zacks Investment Research lowered B&G Foods from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. CL King started coverage on B&G Foods in a research note on Wednesday, December 12th. They set a “buy” rating and a $37.50 price target on the stock. Citigroup lowered their price target on B&G Foods from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. ValuEngine lowered B&G Foods from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group boosted their price target on B&G Foods from $21.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. B&G Foods currently has an average rating of “Hold” and a consensus target price of $34.15.
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B&G Foods Company Profile
B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods in 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 vinegars, maple syrups, 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, cookies and crackers, nut clusters, and other specialty products.
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