Creekmur Asset Management LLC Invests $288,000 in B&G Foods, Inc. (NYSE:BGS)

Creekmur Asset Management LLC acquired a new stake in shares of B&G Foods, Inc. (NYSE:BGS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 27,415 shares of the company’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BGS. Signaturefd LLC raised its stake in shares of B&G Foods by 58.2% during the fourth quarter. Signaturefd LLC now owns 6,124 shares of the company’s stock valued at $64,000 after acquiring an additional 2,254 shares during the last quarter. CWM LLC lifted its holdings in B&G Foods by 57.6% during the 4th quarter. CWM LLC now owns 6,257 shares of the company’s stock worth $66,000 after buying an additional 2,287 shares during the period. GAMMA Investing LLC bought a new stake in shares of B&G Foods in the 4th quarter valued at about $76,000. Syon Capital LLC acquired a new stake in shares of B&G Foods in the fourth quarter valued at about $114,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in shares of B&G Foods during the fourth quarter worth about $114,000. Institutional investors own 66.15% of the company’s stock.

Insider Buying and Selling

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

B&G Foods Trading Down 5.2 %

BGS traded down $0.46 during trading on Friday, hitting $8.39. The company’s stock had a trading volume of 1,537,929 shares, compared to its average volume of 813,385. The firm has a market capitalization of $663.24 million, a P/E ratio of -5.83 and a beta of 0.61. B&G Foods, Inc. has a twelve month low of $7.20 and a twelve month high of $15.15. The stock’s fifty day moving average price is $10.03 and its 200-day moving average price is $10.32. 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 released its earnings results on Wednesday, May 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $475.22 million for the quarter, compared to analyst estimates of $480.93 million. B&G Foods had a negative net margin of 5.42% and a positive return on equity of 8.33%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS. Analysts anticipate that B&G Foods, Inc. will post 0.79 EPS for the current year.

B&G Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Friday, June 28th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date of this dividend is Friday, June 28th. B&G Foods’s payout ratio is -52.78%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com lowered shares of B&G Foods from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Piper Sandler raised shares of B&G Foods from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Thursday, May 16th. Two investment 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, the company has an average rating of “Hold” and a consensus 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.