Why B&G Foods (BGS) Stock Is Up Today
Stock Story
Published Feb 28, 2024 12:13PM ET
Updated Feb 28, 2024 12:31PM ET
Why B&G Foods (BGS) Stock Is Up Today
What Happened:Shares of packaged foods company B&G Foods (NYSE:BGS) jumped 23.5% in the morning session after the company reported fourth-quarter results with revenue, gross margin, and EPS outperforming Wall Street's estimates. B&G Foods also provided strong earnings forecast for the full year, which exceeded analysts' expectations. The only minor negative was that its operating margin missed analysts' expectations. Zooming out, this was still a good quarter, showing that the company is staying on track.
Is now the time to buy B&G Foods? Find out by reading the original article on StockStory.
What is the market telling us:B&G Foods's shares are not very volatile than the market average and over the last year have had only 14 moves greater than 5%. Moves this big are very rare for B&G Foods and that is indicating to us that this news had a significant impact on the market's perception of the business.
B&G Foods is up 1.6% since the beginning of the year, but at $11.32 per share it is still trading 30.9% below its 52-week high of $16.39 from April 2023. Investors who bought $1,000 worth of B&G Foods's shares 5 years ago would now be looking at an investment worth $459.59.
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Written By: Stock Story
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