Cladis Investment Advisory LLC Acquires 9,000 Shares of B&G Foods, Inc. (NYSE:BGS)

Cladis Investment Advisory LLC increased its holdings in B&G Foods, Inc. (NYSE:BGS) by 24.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,000 shares of the company’s stock after buying an additional 9,000 shares during the period. Cladis Investment Advisory LLC’s holdings in B&G Foods were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of B&G Foods by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,757,114 shares of the company’s stock worth $18,450,000 after purchasing an additional 181,724 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of B&G Foods during the fourth quarter worth $2,561,000. CWM LLC increased its position in shares of B&G Foods by 57.6% during the fourth quarter. CWM LLC now owns 6,257 shares of the company’s stock worth $66,000 after purchasing an additional 2,287 shares in the last quarter. Aigen Investment Management LP increased its position in shares of B&G Foods by 274.0% during the third quarter. Aigen Investment Management LP now owns 78,181 shares of the company’s stock worth $773,000 after purchasing an additional 57,276 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of B&G Foods by 72.7% during the third quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock worth $10,760,000 after purchasing an additional 458,082 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Stock Down 1.3 %

Shares of NYSE BGS traded down $0.12 during mid-day trading on Friday, hitting $9.35. The stock had a trading volume of 969,191 shares, compared to its average volume of 1,269,726. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $15.15. The company has a debt-to-equity ratio of 2.58, a current ratio of 3.22 and a quick ratio of 0.92. The company has a 50 day moving average of $10.24 and a two-hundred day moving average of $10.33.

B&G Foods (NYSE:BGS) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). B&G Foods had a negative net margin of 5.42% and a positive return on equity of 8.33%. The business had revenue of $475.22 million during the quarter, compared to analysts’ expectations of $480.93 million. During the same period in the previous year, the company posted $0.27 earnings per share. B&G Foods’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that B&G Foods, Inc. will post 0.79 earnings per share for the current year.

B&G Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Friday, June 28th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend is Friday, June 28th. B&G Foods’s payout ratio is -52.78%.

Insider Buying and Selling at B&G Foods

In other news, Director Stephen Sherrill bought 125,000 shares of the stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $8.59 per share, with a total value of $1,073,750.00. Following the purchase, the director now directly owns 270,136 shares in the company, valued at approximately $2,320,468.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Stephen Sherrill bought 125,000 shares of the stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $8.59 per share, with a total value of $1,073,750.00. Following the purchase, the director now directly owns 270,136 shares in the company, valued at approximately $2,320,468.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott E. Lerner bought 11,755 shares of the stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $8.51 per share, for a total transaction of $100,035.05. Following the completion of the purchase, the executive vice president now owns 189,144 shares in the company, valued at $1,609,615.44. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 141,955 shares of company stock valued at $1,218,453. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com downgraded B&G Foods from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Piper Sandler raised B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Thursday, May 16th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, B&G Foods currently has an average rating of “Hold” and an average target price of $9.50.

B&G Foods Profile

B&G Foods, Inc manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The company's products include frozen and canned vegetables, vegetables, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrups, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder and soda, corn starch, nut clusters, and other specialty products.