B&G Foods, Inc [NYSE: BGS] stock went on an upward path that rose over 21.28% on Wednesday, amounting to a one-week price increase of more than 18.13%. The company report on February 27, 2024 at 4:14 PM that B&G Foods Reports Financial Results for Fourth Quarter and Full Year 2023.
— Net Cash Provided by Operating Activities Increased by $241.8 Million for Full Year 2023 —— Principal Amount of Long-Term Debt Decreased by $340.1 Million During Full Year 2023 —.
B&G Foods, Inc. (NYSE: BGS) today announced financial results for the fourth quarter and full year 2023. Financial results for the fourth quarter and full year 2023 reflect the impact of the Back to Nature divestiture on the first day of fiscal 2023 and the Green Giant U.S. shelf‑stable divestiture during the fourth quarter of 2023.
Over the last 12 months, BGS stock dropped by -9.52%. The one-year B&G Foods, Inc stock forecast points to a potential downside of -19.12. The average equity rating for BGS stock is currently 3.86, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $896.27 million, with 78.62 million shares outstanding and 76.75 million shares in the current float. Compared to the average trading volume of 1.16M shares, BGS stock reached a trading volume of 4989498 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on B&G Foods, Inc [BGS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BGS shares is $9.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BGS stock is a recommendation set at 3.86. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for B&G Foods, Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 04, 2023. While these analysts kept the previous recommendation, TD Cowen raised their target price to Underperform. The new note on the price target was released on September 13, 2023, representing the official price target for B&G Foods, Inc stock. Previously, the target price had yet another raise to $9, while Consumer Edge Research analysts kept a Underweight rating on BGS stock. On June 14, 2022, analysts decreased their price target for BGS shares from 25 to 23.
The Average True Range (ATR) for B&G Foods, Inc is set at 0.49, with the Price to Sales ratio for BGS stock in the period of the last 12 months amounting to 0.43. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 0.52. Price to Free Cash Flow for BGS in the course of the last twelve months was 4.76 with Quick ratio for the last quarter at 0.89.
BGS Stock Performance Analysis:
B&G Foods, Inc [BGS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.13. With this latest performance, BGS shares gained by 9.30% in over the last four-week period, additionally sinking by -9.88% over the last 6 months – not to mention a drop of -9.52% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BGS stock in for the last two-week period is set at 66.56, with the RSI for the last a single of trading hit 73.73, and the three-weeks RSI is set at 62.29 for B&G Foods, Inc [BGS]. The present Moving Average for the last 50 days of trading for this stock 10.23, while it was recorded at 9.79 for the last single week of trading, and 11.13 for the last 200 days.
Insight into B&G Foods, Inc Fundamentals:
B&G Foods, Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 3.06.
BGS Stock EPS
With the latest financial reports released by the company, B&G Foods, Inc posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 81.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BGS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for B&G Foods, Inc go to 1.20%.
B&G Foods, Inc [BGS] Institutonal Ownership Details
The top three institutional holders of BGS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BGS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BGS stock with ownership which is approximately 5.8325%.
