Cwm LLC Grows Stock Holdings in B&G Foods, Inc. (NYSE:BGS)

Cwm LLC raised its position in shares of B&G Foods, Inc. (NYSE:BGS) by 57.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,257 shares of the company’s stock after buying an additional 2,287 shares during the period. Cwm LLC’s holdings in B&G Foods were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BGS. Invesco Ltd. boosted its holdings in B&G Foods by 72.7% in the third quarter. Invesco Ltd. now owns 1,087,931 shares of the company’s stock valued at $10,760,000 after purchasing an additional 458,082 shares during the period. Savoir Faire Capital Management L.P. purchased a new position in B&G Foods in the third quarter valued at $3,698,000. GSA Capital Partners LLP boosted its holdings in B&G Foods by 313.0% in the third quarter. GSA Capital Partners LLP now owns 317,922 shares of the company’s stock valued at $3,144,000 after purchasing an additional 240,943 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in B&G Foods by 10.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,575,390 shares of the company’s stock valued at $15,581,000 after purchasing an additional 148,548 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in B&G Foods in the third quarter valued at $1,160,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

B&G Foods Stock Up 1.9 %

B&G Foods stock opened at $11.55 on Thursday. B&G Foods, Inc. has a 1-year low of $7.20 and a 1-year high of $15.46. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.06 and a quick ratio of 0.89. The stock has a market cap of $913.04 million, a PE ratio of -13.13 and a beta of 0.70. The stock’s fifty day moving average is $11.10 and its two-hundred day moving average is $10.25.

B&G Foods (NYSE:BGS) last posted its earnings results on Tuesday, February 27th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. B&G Foods had a positive return on equity of 8.68% and a negative net margin of 3.21%. The business had revenue of $578.13 million for the quarter, compared to analysts’ expectations of $569.65 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts expect that B&G Foods, Inc. will post 0.84 EPS for the current fiscal year.

B&G Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date was Wednesday, March 27th. B&G Foods’s dividend payout ratio (DPR) is currently -86.36%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Piper Sandler raised their price target on B&G Foods from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, B&G Foods presently has a consensus 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.