B&G Foods (NYSE:BGS) Stock Passes Above 200-Day Moving Average – What’s Next?

B&G Foods, Inc. (NYSE:BGS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.62 and traded as high as $4.91. B&G Foods shares last traded at $4.7850, with a volume of 1,667,303 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised their price objective on B&G Foods from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. TD Cowen reiterated a “sell” rating on shares of B&G Foods in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th. Finally, Evercore set a $5.00 price objective on shares of B&G Foods in a research report on Wednesday, March 4th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $4.70.

B&G Foods Stock Performance

The firm has a market cap of $406.65 million, a PE ratio of -9.42 and a beta of 0.46. The company has a quick ratio of 1.43, a current ratio of 3.32 and a debt-to-equity ratio of 4.30. The company has a 50-day simple moving average of $4.96 and a two-hundred day simple moving average of $4.63.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $539.56 million during the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The business’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.76 annualized dividend and a yield of 14.9%. B&G Foods’s payout ratio is currently -140.74%.

Insider Buying and Selling at B&G Foods

In other news, Director David L. Wenner sold 19,500 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $5.19, for a total transaction of $101,205.00. Following the completion of the transaction, the director directly owned 787,566 shares of the company’s stock, valued at $4,087,467.54. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew D. Vogel sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $5.19, for a total transaction of $103,800.00. Following the sale, the executive vice president owned 50,679 shares of the company’s stock, valued at approximately $263,024.01. The trade was a 28.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,821 shares of company stock worth $266,138 over the last three months. 3.20% of the stock is currently owned by insiders.

Institutional Trading of B&G Foods

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of B&G Foods by 324.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,707,044 shares of the company’s stock valued at $15,940,000 after buying an additional 2,833,090 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in B&G Foods by 26.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,377,381 shares of the company’s stock worth $14,523,000 after acquiring an additional 705,958 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in B&G Foods by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,384,298 shares of the company’s stock worth $10,086,000 after acquiring an additional 119,362 shares during the last quarter. Geode Capital Management LLC raised its stake in B&G Foods by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,921,485 shares of the company’s stock valued at $8,264,000 after acquiring an additional 29,498 shares during the period. Finally, Millennium Management LLC raised its stake in B&G Foods by 15,131.8% in the 1st quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after acquiring an additional 1,875,589 shares during the period. 66.15% of the stock is owned by hedge funds and other institutional investors.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.