Who would've thought a packaged food brand would rise 300% in the last year while paying over 6% dividend?
B&G Foods owns several popular grocery store food brands like: Green Giant, Cream of Wheat, Crisco, Weber, and so many more. With so many people cooking from home over the past year, BGS stock has exploded in popularity. Will this stock continue to trend up towards old highs of $50+?
I increased my position in BGS last Thursday, March 4th, after the stock price came down and hit my dotted trend line and the bottom of the envelope. Considering the current chart pattern, BGS looks like it could be at a resistance point. If BGS can break through the $31.50 resistance level, $33.30 looks to be the next resistance (the top of the envelope). If the price fails to break through the $31.50 level, look for resistance at $28 (the floor on the dotted ascending trend line).
Here are some interesting key statistics to consider:
- The 52 week low on BGS is $10.39
- $2 billion market cap
- 6.16% dividend yield (Compared to competitors: MDLZ - 2.27%, CAG - 3.05%, GIS - 3.55%, K - 3.87%)
- 15.08 P/E (Compared to competitors: MDLZ - 22.44, CAG - 15.85, GIS - 14.72, K - 16.28)
- Debt/Equity 284.79 (Compared to competitors: MDLZ - 76.11, CAG - 112.64, GIS - 147.92, K - 223.96)
- 29.61% of float is short (Compared to competitors: MDLZ - 0.97%, CAG - 3.46%, GIS - 3.91%, K - 8.25%)
While there is still a significant percentage of the float short, which raises a red flag, the brand's BGS own are household staples for many Americans, and I believe these brand's will continue to grow in popularity over the years to come. And, with a 6.16% dividend yield, this stock presents a great opportunity to earn some cash flow each quarter.
B&G Foods owns several popular grocery store food brands like: Green Giant, Cream of Wheat, Crisco, Weber, and so many more. With so many people cooking from home over the past year, BGS stock has exploded in popularity. Will this stock continue to trend up towards old highs of $50+?
I increased my position in BGS last Thursday, March 4th, after the stock price came down and hit my dotted trend line and the bottom of the envelope. Considering the current chart pattern, BGS looks like it could be at a resistance point. If BGS can break through the $31.50 resistance level, $33.30 looks to be the next resistance (the top of the envelope). If the price fails to break through the $31.50 level, look for resistance at $28 (the floor on the dotted ascending trend line).
Here are some interesting key statistics to consider:
- The 52 week low on BGS is $10.39
- $2 billion market cap
- 6.16% dividend yield (Compared to competitors: MDLZ - 2.27%, CAG - 3.05%, GIS - 3.55%, K - 3.87%)
- 15.08 P/E (Compared to competitors: MDLZ - 22.44, CAG - 15.85, GIS - 14.72, K - 16.28)
- Debt/Equity 284.79 (Compared to competitors: MDLZ - 76.11, CAG - 112.64, GIS - 147.92, K - 223.96)
- 29.61% of float is short (Compared to competitors: MDLZ - 0.97%, CAG - 3.46%, GIS - 3.91%, K - 8.25%)
While there is still a significant percentage of the float short, which raises a red flag, the brand's BGS own are household staples for many Americans, and I believe these brand's will continue to grow in popularity over the years to come. And, with a 6.16% dividend yield, this stock presents a great opportunity to earn some cash flow each quarter.