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

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

Wall Street Analyst Weigh In

Several analysts have issued reports on BGS shares. Zacks Research upgraded B&G Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Royal Bank Of Canada dropped their price target on shares of B&G Foods from $6.00 to $5.00 and set a “sector perform” rating on the stock 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 note on Monday, November 24th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, B&G Foods has an average rating of “Reduce” and an average target price of $4.67.

B&G Foods Stock Performance

The company has a debt-to-equity ratio of 3.96, a current ratio of 2.93 and a quick ratio of 0.89. The stock has a market cap of $364.30 million, a PE ratio of -1.61 and a beta of 0.43. The business has a 50 day moving average price of $4.41 and a two-hundred day moving average price of $4.36.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. B&G Foods had a negative net margin of 12.02% and a positive return on equity of 7.16%. The business had revenue of $439.30 million during the quarter, compared to analysts’ expectations of $435.47 million. During the same quarter in the prior year, the company posted $0.13 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. B&G Foods has set its FY 2025 guidance at 0.500-0.580 EPS. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.7 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 26th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 16.7%. The ex-dividend date is Wednesday, December 31st. B&G Foods’s payout ratio is currently -24.05%.

Hedge Funds Weigh In On B&G Foods

Hedge funds have recently made changes to their positions in the business. Coldstream Capital Management Inc. purchased a new position in B&G Foods during the 3rd quarter valued at $78,000. Triumph Capital Management purchased a new position in shares of B&G Foods during the third quarter valued at about $34,000. Numerai GP LLC bought a new position in B&G Foods in the third quarter worth about $59,000. Mariner LLC lifted its holdings in B&G Foods by 143.9% in the third quarter. Mariner LLC now owns 150,564 shares of the company’s stock worth $667,000 after buying an additional 88,842 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new stake in B&G Foods during the 3rd quarter valued at approximately $143,000. 66.15% of the stock is owned by hedge funds and other institutional investors.

About B&G Foods

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.