As an investor for the last 20 years, I am always on the lookout for solid dividend-paying stocks. One dividend stock investors should take a look at is B&G Foods, INC (NYSE: BGS).
Why should investors buy B&G Foods stock (BGS)? It pays a huge 6.61% dividend! Before I go any further, investors should never chase dividends, but rather look at the company’s business model, a current status that includes both technical and fundamental analysis.
What is B&G Foods (BGS)?
It is an American food manufacturer that sells over 50 well-known products and brands like Cream of Wheat, Dash, and Green Giant Vegetables. The company has been around since 1889 and is headquartered in New Jersey.
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Before the coronavirus, BGS struggled to pay the dividend and was not very attractive. However, times have changed with the Coronavirus and business is booming with a year-over-year growth net sales of 38% and 44% EBITDA.
You may wonder, what happens to BGS after the pandemic? This is a very good question. Although the virus is unlikely to go away anytime soon. However, when it does, a recent market report said from Piper Jaffray said that 2/3 of respondents of the survey said they will continue to eat at home.
What about the technical analysis of BGS stock?
B&G Foods stock is showing bearish trends on 1-day technicals. However, looking a longer term such as a weekly chart the signals are bullish. We believe this is the case because BGS is not a growth stock and has stayed ranged between $15 to $30 per share since 2019. The current pivot point on the daily is $27.40 with resistance around $28.40. Investors looking to buy BGS stock should consider buying it on a dip.
Jul-28-20 Initiated Seaport Global Securities Neutral
Jun-12-20 Initiated DA Davidson Neutral
Jun-11-20 Initiated RBC Capital Mkts Sector Perform
May-13-20 Upgrade Piper Sandler Neutral → Overweight $21 → $28
Apr-28-20 Upgrade Credit Suisse Underperform → Neutral $17 → $19
Jan-23-20 Initiated Jefferies Hold
Jan-22-20 Initiated Jefferies Hold
Jun-12-19 Initiated Evercore ISI In-line
1 Week Moving Averages For BSG Stock
|Exponential Moving Average (5)||27.83||Buy|
|Simple Moving Average (5)||28.01||Buy|
|Exponential Moving Average (10)||27.89||Buy|
|Simple Moving Average (10)||27.99||Buy|
|Exponential Moving Average (20)||26.96||Buy|
|Simple Moving Average (20)||27.74||Buy|
|Exponential Moving Average (30)||25.76||Buy|
|Simple Moving Average (30)||25.83||Buy|
|Exponential Moving Average (50)||24.24||Buy|
|Simple Moving Average (50)||22.00||Buy|
|Exponential Moving Average (100)||24.06||Buy|
|Simple Moving Average (100)||22.07||Buy|
|Exponential Moving Average (200)||26.28||Buy|
|Simple Moving Average (200)||27.73||Buy|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||26.28||Neutral|
|Volume Weighted Moving Average (20)||27.81||Buy|
|Hull Moving Average (9)||27.64||Buy|