B&G Foods (NYSE:BGS) Shares Cross Above 200 Day Moving Average – Here’s What Happened

B&G Foods, Inc. (NYSE:BGS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.36 and traded as high as $4.64. B&G Foods shares last traded at $4.5550, with a volume of 913,104 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BGS. Zacks Research upgraded shares of B&G Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Royal Bank Of Canada dropped their price target on B&G Foods from $6.00 to $5.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a research report on Monday. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $4.67.

B&G Foods Trading Up 1.0%

The firm’s 50-day simple moving average is $4.41 and its 200-day simple moving average is $4.36. The firm has a market capitalization of $364.30 million, a PE ratio of -1.61 and a beta of 0.43. The company has a quick ratio of 0.89, a current ratio of 2.93 and a debt-to-equity ratio of 3.96.

B&G Foods (NYSE:BGS) last released its earnings results on Wednesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $439.30 million during the quarter, compared to analyst estimates of $435.47 million. B&G Foods had a positive return on equity of 7.16% and a negative net margin of 12.02%.B&G Foods’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. Equities analysts expect 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 Monday, January 26th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 16.7%. The ex-dividend date of this dividend is Wednesday, December 31st. B&G Foods’s dividend payout ratio is -24.05%.

Institutional Investors Weigh In On B&G Foods

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in B&G Foods by 2.9% during the 1st quarter. US Bancorp DE now owns 81,823 shares of the company’s stock valued at $562,000 after buying an additional 2,278 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of B&G Foods by 3.9% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 63,628 shares of the company’s stock valued at $282,000 after acquiring an additional 2,379 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of B&G Foods by 10.3% during the third quarter. Savant Capital LLC now owns 29,913 shares of the company’s stock worth $133,000 after purchasing an additional 2,792 shares during the period. CWM LLC grew its stake in shares of B&G Foods by 61.2% in the first quarter. CWM LLC now owns 7,518 shares of the company’s stock worth $52,000 after purchasing an additional 2,855 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of B&G Foods by 48.7% in the second quarter. Signaturefd LLC now owns 10,036 shares of the company’s stock worth $42,000 after purchasing an additional 3,288 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors.

B&G Foods Company 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. It operates through the following segments: Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions.