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

Savoir Faire Capital Management L.P. lessened its stake in shares of B&G Foods, Inc. (NYSE:BGS) by 18.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 429,321 shares of the company’s stock after selling 98,929 shares during the period. B&G Foods accounts for 1.9% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 26th largest holding. Savoir Faire Capital Management L.P. owned 0.54% of B&G Foods worth $3,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in B&G Foods by 5.4% during the third quarter. Empowered Funds LLC now owns 315,620 shares of the company’s stock valued at $2,803,000 after purchasing an additional 16,080 shares during the last quarter. Versor Investments LP grew its stake in shares of B&G Foods by 13.4% in the third quarter. Versor Investments LP now owns 24,300 shares of the company’s stock worth $216,000 after acquiring an additional 2,862 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of B&G Foods by 1.7% in the third quarter. Janney Montgomery Scott LLC now owns 254,265 shares of the company’s stock worth $2,258,000 after acquiring an additional 4,240 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of B&G Foods by 47.7% in the third quarter. Nisa Investment Advisors LLC now owns 104,459 shares of the company’s stock worth $947,000 after acquiring an additional 33,712 shares during the last quarter. Finally, PFG Investments LLC grew its stake in shares of B&G Foods by 12.5% in the third quarter. PFG Investments LLC now owns 18,045 shares of the company’s stock worth $160,000 after acquiring an additional 2,008 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

B&G Foods Stock Performance

B&G Foods stock opened at $6.26 on Tuesday. The stock has a market capitalization of $495.15 million, a price-to-earnings ratio of -18.38 and a beta of 0.61. The stock has a 50-day simple moving average of $8.30 and a 200 day simple moving average of $8.57. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. B&G Foods, Inc. has a 12-month low of $6.14 and a 12-month high of $11.97.

B&G Foods (NYSE:BGS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to analyst estimates of $473.82 million. B&G Foods had a negative net margin of 1.34% and a positive return on equity of 6.97%. The business’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, research analysts anticipate that B&G Foods, Inc. will post 0.73 earnings per share for the current fiscal year.

B&G Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.76 annualized dividend and a yield of 12.15%. B&G Foods’s dividend payout ratio (DPR) is currently -223.52%.

Insiders Place Their Bets

In related news, EVP Eric H. Hart acquired 5,000 shares of B&G Foods stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $6.25 per share, with a total value of $31,250.00. Following the completion of the transaction, the executive vice president now directly owns 88,899 shares in the company, valued at $555,618.75. This trade represents a 5.96 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jordan E. Greenberg sold 8,000 shares of B&G Foods stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $8.33, for a total transaction 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. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 90,111 shares of company stock worth $593,054. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

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

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.