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

B&G Foods, Inc. (NYSE:BGS)’s share price passed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TD Cowen restated a “sell” rating on shares of B&G Foods in a research note on Wednesday, March 4th. Evercore set a $5.00 price objective on shares of B&G Foods in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. Finally, Barclays increased their target price on B&G Foods from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $4.70.

B&G Foods Trading Down 2.3%

The stock’s 50 day simple moving average is $4.93 and its 200 day simple moving average is $4.62. The firm has a market cap of $382.66 million, a PE ratio of -8.86 and a beta of 0.46. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.43 and a current ratio of 3.32.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. B&G Foods had a positive return on equity of 8.43% and a negative net margin of 2.37%.The firm had revenue of $539.56 million during the quarter, compared to analysts’ expectations of $537.50 million. During the same period in the prior year, the business earned $0.31 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The company 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 is Tuesday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 15.9%. B&G Foods’s payout ratio is presently -140.74%.

Insider Activity at B&G Foods

In other B&G Foods news, Director David L. Wenner sold 19,500 shares of B&G Foods 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 $101,205.00. Following the sale, the director directly owned 787,566 shares of the company’s stock, valued at approximately $4,087,467.54. The trade was a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andrew D. Vogel sold 20,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $5.19, for a total value of $103,800.00. Following the completion of the sale, the executive vice president directly owned 50,679 shares in the company, valued at approximately $263,024.01. The trade was a 28.30% decrease in their ownership of the stock. 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 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BGS. Northwestern Mutual Wealth Management Co. raised its holdings in B&G Foods by 502.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,443 shares of the company’s stock worth $31,000 after buying an additional 6,207 shares during the last quarter. Triumph Capital Management bought a new stake in shares of B&G Foods during the third quarter valued at approximately $34,000. Allworth Financial LP increased its position in shares of B&G Foods by 49.5% during the third quarter. Allworth Financial LP now owns 7,891 shares of the company’s stock valued at $35,000 after acquiring an additional 2,612 shares in the last quarter. Federated Hermes Inc. purchased a new position in B&G Foods in the 2nd quarter worth approximately $35,000. Finally, Integrated Wealth Concepts LLC bought a new position in B&G Foods in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.

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.