B&G Foods (NYSE:BGS) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

B&G Foods, Inc. (NYSE:BGS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.43 and traded as high as $5.19. B&G Foods shares last traded at $5.09, with a volume of 2,367,095 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. TD Cowen boosted their target price on B&G Foods from $3.00 to $3.50 and gave the company a “sell” rating in a research note on Friday, January 16th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $4.38.

B&G Foods Price Performance

The firm has a market cap of $407.10 million, a PE ratio of -1.61 and a beta of 0.48. The company has a debt-to-equity ratio of 4.29, a current ratio of 3.20 and a quick ratio of 1.30. The firm has a 50-day simple moving average of $4.48 and a 200 day simple moving average of $4.43.

Insider Buying and Selling at B&G Foods

In other news, Director Dennis M. Mullen sold 18,795 shares of B&G Foods stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $4.50, for a total transaction of $84,577.50. Following the completion of the transaction, the director directly owned 83,956 shares in the company, valued at approximately $377,802. This trade represents a 18.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV boosted its position in B&G Foods by 3.9% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 63,628 shares of the company’s stock worth $282,000 after purchasing an additional 2,379 shares during the last quarter. Allworth Financial LP lifted its stake in shares of B&G Foods by 49.5% in the 3rd quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock worth $35,000 after purchasing an additional 2,612 shares during the period. Savant Capital LLC boosted its holdings in shares of B&G Foods by 10.3% in the third quarter. Savant Capital LLC now owns 29,913 shares of the company’s stock worth $133,000 after buying an additional 2,792 shares during the last quarter. Comerica Bank grew its position in B&G Foods by 53.3% during the fourth quarter. Comerica Bank now owns 10,706 shares of the company’s stock valued at $46,000 after buying an additional 3,722 shares during the period. Finally, Prudential Financial Inc. increased its holdings in B&G Foods by 5.6% during the second quarter. Prudential Financial Inc. now owns 83,807 shares of the company’s stock valued at $355,000 after buying an additional 4,447 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Company Profile

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.