Savoir Faire Capital Management L.P. Has $3.81 Million Stock Position in B&G Foods, Inc. (NYSE:BGS)

Savoir Faire Capital Management L.P. lowered its position in shares of B&G Foods, Inc. (NYSE:BGS) by 18.7% in the third quarter, Holdings Channel reports. The institutional investor owned 429,321 shares of the company’s stock after selling 98,929 shares during the period. B&G Foods makes up about 1.9% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 26th largest position. Savoir Faire Capital Management L.P.’s holdings in B&G Foods were worth $3,812,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of B&G Foods during the second quarter worth $33,000. nVerses Capital LLC acquired a new position in B&G Foods in the second quarter valued at about $33,000. Russell Investments Group Ltd. raised its stake in B&G Foods by 1,556.9% in the first quarter. Russell Investments Group Ltd. now owns 4,921 shares of the company’s stock valued at $56,000 after purchasing an additional 4,624 shares in the last quarter. LRI Investments LLC acquired a new position in B&G Foods in the first quarter valued at about $60,000. Finally, Versant Capital Management Inc raised its stake in B&G Foods by 36.9% in the second quarter. Versant Capital Management Inc now owns 5,768 shares of the company’s stock valued at $47,000 after purchasing an additional 1,555 shares in the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

NYSE:BGS opened at $6.26 on Tuesday. The stock has a market cap of $495.15 million, a P/E ratio of -18.38 and a beta of 0.61. The company has a current ratio of 1.64, a quick ratio of 0.49 and a debt-to-equity ratio of 2.40. The stock’s 50-day moving average is $8.30 and its 200-day moving average is $8.57. B&G Foods, Inc. has a 1-year low of $6.14 and a 1-year high of $11.97.

B&G Foods (NYSE:BGS) last announced its earnings results on Tuesday, November 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The company had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. Equities research analysts anticipate that B&G Foods, Inc. will post 0.73 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 Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 12.15%. The ex-dividend date of this dividend is Tuesday, December 31st. B&G Foods’s dividend payout ratio (DPR) is presently -223.52%.

Insider Buying and Selling at B&G Foods

In other B&G Foods news, EVP Jordan E. Greenberg sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total value of $66,640.00. Following the transaction, the executive vice president now directly owns 66,095 shares of the company’s stock, valued at approximately $550,571.35. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott E. Lerner purchased 7,611 shares of the company’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $6.57 per share, for a total transaction of $50,004.27. Following the completion of the purchase, the executive vice president now owns 196,755 shares of the company’s stock, valued at approximately $1,292,680.35. This trade represents a 4.02 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 90,111 shares of company stock valued at $593,054. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BGS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $10.00 price target on shares of B&G Foods in a research note on Wednesday, August 7th. Evercore ISI decreased their target price on B&G Foods from $10.00 to $9.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 6th. StockNews.com upgraded B&G Foods from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Barclays decreased their target price on B&G Foods from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, TD Cowen decreased their target price on B&G Foods from $8.00 to $7.50 and set a “sell” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.30.

About B&G Foods

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.