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

B&G Foods, Inc. (NYSE:BGSGet Free Report)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.54 and traded as high as $5.39. B&G Foods shares last traded at $5.1850, with a volume of 2,148,729 shares.

Key Stories Impacting B&G Foods

Here are the key news stories impacting B&G Foods this week:

Wall Street Analyst Weigh In

BGS has been the subject of a number of research analyst reports. Evercore set a $5.00 target price on B&G Foods in a report on Wednesday. TD Cowen reaffirmed a “sell” rating on shares of B&G Foods in a research note on Wednesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of B&G Foods in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $4.50.

Get Our Latest Stock Analysis on B&G Foods

B&G Foods Stock Performance

The company has a current ratio of 3.20, a quick ratio of 1.30 and a debt-to-equity ratio of 4.29. The firm has a 50-day simple moving average of $4.68 and a two-hundred day simple moving average of $4.55. The company has a market capitalization of $470.28 million, a price-to-earnings ratio of -10.89 and a beta of 0.46.

B&G Foods (NYSE:BGSGet Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $539.56 million during the quarter, compared to analyst estimates of $537.50 million. B&G Foods had a positive return on equity of 8.25% and a negative net margin of 2.37%.The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. As a group, sell-side analysts forecast that B&G Foods, Inc. will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Alpine Global Management LLC bought a new position in shares of B&G Foods during the 4th quarter valued at $169,000. Invesco Ltd. increased its position in B&G Foods by 23.7% during the fourth quarter. Invesco Ltd. now owns 395,974 shares of the company’s stock worth $1,703,000 after buying an additional 75,748 shares during the last quarter. Corient Private Wealth LLC increased its position in B&G Foods by 50.0% during the fourth quarter. Corient Private Wealth LLC now owns 52,611 shares of the company’s stock worth $226,000 after buying an additional 17,542 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in B&G Foods by 37.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,374 shares of the company’s stock valued at $191,000 after buying an additional 11,984 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of B&G Foods in the fourth quarter worth about $382,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

About B&G Foods

(Get Free Report)

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.

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