Savoir Faire Capital Management L.P. Lowers Holdings in B&G Foods, Inc. (NYSE:BGS)

Savoir Faire Capital Management L.P. lowered its position in B&G Foods, Inc. (NYSE:BGS - Free Report) by 18.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 429,321 shares of the company's stock after selling 98,929 shares during the period. B&G Foods comprises about 1.9% of Savoir Faire Capital Management L.P.'s investment portfolio, making the stock its 26th biggest holding. Savoir Faire Capital Management L.P. owned 0.54% of B&G Foods worth $3,812,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. nVerses Capital LLC boosted its stake in shares of B&G Foods by 34.1% during the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company's stock worth $49,000 after acquiring an additional 1,400 shares during the last quarter. Versant Capital Management Inc lifted its position in B&G Foods by 36.9% during 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. Rhumbline Advisers grew its holdings in B&G Foods by 0.7% during the second quarter. Rhumbline Advisers now owns 248,716 shares of the company's stock valued at $2,010,000 after purchasing an additional 1,625 shares during the period. SummerHaven Investment Management LLC increased its position in B&G Foods by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 55,725 shares of the company's stock worth $450,000 after buying an additional 1,636 shares in the last quarter. Finally, PFG Investments LLC raised 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 buying an additional 2,008 shares during the period. Hedge funds and other institutional investors own 66.15% of the company's stock.

B&G Foods Price Performance

NYSE BGS traded up $0.12 on Tuesday, reaching $6.37. The company had a trading volume of 1,891,454 shares, compared to its average volume of 1,092,705. The stock has a market capitalization of $503.85 million, a PE ratio of -18.72 and a beta of 0.61. B&G Foods, Inc. has a 12 month low of $6.14 and a 12 month high of $11.97. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40. The firm's 50 day moving average price is $8.21 and its 200 day moving average price is $8.50.

B&G Foods (NYSE:BGS - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.07). The firm had revenue of $461.10 million during the quarter, compared to the consensus estimate of $473.82 million. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The company's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. As a group, equities analysts predict 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. Investors of record on Tuesday, December 31st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 11.94%. The ex-dividend date is Tuesday, December 31st. B&G Foods's dividend payout ratio is presently -223.52%.

Insider Activity at B&G Foods

In other news, Director Stephen Sherrill acquired 70,000 shares of the company's stock in a transaction on Friday, November 8th. The stock was bought at an average cost of $6.63 per share, with a total value of $464,100.00. Following the completion of the purchase, the director now directly owns 353,084 shares of the company's stock, valued at $2,340,946.92. This represents a 24.73 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric H. Hart purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $6.25 per share, for a total transaction of $31,250.00. Following the completion of the acquisition, the executive vice president now directly owns 88,899 shares in the company, valued at $555,618.75. The trade was a 5.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 90,111 shares of company stock valued at $593,054 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.