Creekmur Asset Management LLC Trims Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Creekmur Asset Management LLC decreased its stake in B&G Foods, Inc. (NYSE:BGS) by 63.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,146 shares of the company’s stock after selling 17,269 shares during the quarter. Creekmur Asset Management LLC’s holdings in B&G Foods were worth $116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BGS. SG Americas Securities LLC increased its position in B&G Foods by 19.6% in the fourth quarter. SG Americas Securities LLC now owns 12,608 shares of the company’s stock worth $132,000 after buying an additional 2,065 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in B&G Foods by 138.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 69,470 shares of the company’s stock worth $729,000 after buying an additional 40,388 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of B&G Foods by 7.4% in the fourth quarter. State of Alaska Department of Revenue now owns 48,369 shares of the company’s stock worth $507,000 after acquiring an additional 3,318 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of B&G Foods by 113.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 76,840 shares of the company’s stock worth $807,000 after acquiring an additional 40,861 shares during the period. Finally, Mutual of America Capital Management LLC boosted its stake in shares of B&G Foods by 8.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 13,761 shares of the company’s stock worth $144,000 after acquiring an additional 1,090 shares during the period. Hedge funds and other institutional investors own 66.15% of the company’s stock.

B&G Foods Price Performance

B&G Foods stock traded down $0.02 during midday trading on Wednesday, reaching $8.62. 1,126,560 shares of the stock traded hands, compared to its average volume of 1,078,431. The stock’s fifty day moving average is $8.58 and its 200-day moving average is $9.81. B&G Foods, Inc. has a 12 month low of $7.20 and a 12 month high of $15.15. The stock has a market cap of $681.02 million, a P/E ratio of -6.08 and a beta of 0.61. The company has a quick ratio of 0.92, a current ratio of 3.22 and a debt-to-equity ratio of 2.58.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $475.22 million for the quarter, compared to the consensus estimate of $480.93 million. During the same period in the previous year, the company posted $0.27 earnings per share. B&G Foods’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that B&G Foods, Inc. will post 0.78 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Friday, June 28th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date was Friday, June 28th. B&G Foods’s payout ratio is presently -52.78%.

Insider Activity at B&G Foods

In related news, Director Stephen Sherrill acquired 125,000 shares of the stock in a transaction dated Monday, May 13th. The stock was 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 of the company’s stock, valued at $2,320,468.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other B&G Foods news, CFO Bruce C. Wacha purchased 5,200 shares of B&G Foods stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $8.59 per share, for a total transaction of $44,668.00. Following the completion of the acquisition, the chief financial officer now owns 91,328 shares in the company, valued at approximately $784,507.52. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen Sherrill purchased 125,000 shares of B&G Foods stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $8.59 per share, for a total transaction of $1,073,750.00. Following the completion of the acquisition, the director now owns 270,136 shares of the company’s stock, valued at approximately $2,320,468.24. The disclosure for this purchase can be found here. Over the last three months, insiders bought 141,955 shares of company stock valued at $1,218,453. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com lowered B&G Foods from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Piper Sandler dropped their price objective on B&G Foods from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Barclays dropped their price objective on B&G Foods from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.50.

B&G Foods Company 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.