B&G Foods (NYSE:BGS) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

B&G Foods, Inc. (NYSE:BGS) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $2.71 and traded as high as $3.67. B&G Foods shares last traded at $3.6340, with a volume of 14,625,350 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded B&G Foods from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. TD Cowen dropped their target price on B&G Foods from $4.00 to $3.00 and set a “sell” rating on the stock in a research report on Wednesday, August 12th. Evercore set a $4.50 target price on B&G Foods in a research note on Wednesday, August 12th. Jefferies Financial Group set a $4.00 price target on shares of B&G Foods in a report on Wednesday, July 22nd. Finally, Barclays lowered their price target on shares of B&G Foods from $4.50 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Sell” and an average target price of $3.62.

B&G Foods Price Performance

The business has a fifty day moving average price of $2.71 and a 200 day moving average price of $4.01. The company has a debt-to-equity ratio of 5.74, a current ratio of 2.84 and a quick ratio of 1.09. The company has a market capitalization of $283.58 million, a price-to-earnings ratio of -3.33 and a beta of 0.56.

B&G Foods (NYSE:BGS) last posted its quarterly earnings data on Tuesday, November 10th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. The business had revenue of $459.78 million during the quarter, compared to the consensus estimate of $435.00 million. B&G Foods had a negative net margin of 4.70% and a positive return on equity of 13.02%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, research analysts expect that B&G Foods, Inc. will post 0.63 earnings per share for the current fiscal year.

B&G Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 26th. Stockholders of record on Thursday, December 31st will be issued a $0.0950 dividend. The ex-dividend date is Thursday, December 31st. This represents a $0.38 annualized dividend and a dividend yield of 10.9%. B&G Foods’s dividend payout ratio (DPR) is -36.19%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in B&G Foods by 35.3% in the third quarter. Empowered Funds LLC now owns 544,468 shares of the company’s stock worth $1,563,000 after purchasing an additional 142,118 shares during the period. Mosaic Family Wealth Partners LLC bought a new position in B&G Foods during the 3rd quarter valued at $29,000. Ingalls & Snyder LLC acquired a new position in shares of B&G Foods during the 3rd quarter valued at $134,000. Russell Investments Group Ltd. increased its position in shares of B&G Foods by 34.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 113,899 shares of the company’s stock valued at $327,000 after purchasing an additional 29,319 shares during the period. Finally, State of Wyoming increased its position in shares of B&G Foods by 324.6% during the 3rd quarter. State of Wyoming now owns 57,835 shares of the company’s stock valued at $166,000 after purchasing an additional 44,213 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

About B&G Foods

B&G Foods, Inc. is a packaged-foods company that manufactures, markets and distributes branded shelf-stable and frozen foods. Its products include vegetables, Mexican foods, hot cereals, spices, seasonings, sauces, baking ingredients and other grocery staples. The company’s brands include Green Giant shelf-stable vegetables, Ortega, Cream of Wheat, Maple Grove Farms and Mrs. Dash. B&G Foods sells its products primarily in the United States, Canada and Puerto Rico through grocery retailers and other channels.