Savoir Faire Capital Management L.P. Sells 93,845 Shares of B&G Foods, Inc. (NYSE:BGS)

Savoir Faire Capital Management L.P. decreased its stake in B&G Foods, Inc. (NYSE:BGS - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 335,476 shares of the company's stock after selling 93,845 shares during the quarter. Savoir Faire Capital Management L.P. owned approximately 0.42% of B&G Foods worth $2,311,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BGS. Dana Investment Advisors Inc. raised its holdings in shares of B&G Foods by 20.3% during the fourth quarter. Dana Investment Advisors Inc. now owns 764,745 shares of the company's stock worth $5,269,000 after acquiring an additional 129,202 shares in the last quarter. Barclays PLC raised its stake in shares of B&G Foods by 310.1% during the 3rd quarter. Barclays PLC now owns 130,693 shares of the company's stock worth $1,160,000 after purchasing an additional 98,824 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of B&G Foods during the 4th quarter worth about $1,132,000. Verition Fund Management LLC lifted its holdings in shares of B&G Foods by 3,480.9% during the 3rd quarter. Verition Fund Management LLC now owns 379,394 shares of the company's stock valued at $3,369,000 after buying an additional 368,799 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of B&G Foods in the 4th quarter valued at approximately $857,000. Institutional investors and hedge funds own 66.15% of the company's stock.

B&G Foods Stock Down 4.8 %

Shares of NYSE:BGS traded down $0.30 on Wednesday, reaching $5.81. The company had a trading volume of 1,100,662 shares, compared to its average volume of 1,382,737. The stock has a market capitalization of $459.40 million, a P/E ratio of -17.07 and a beta of 0.74. The stock has a 50-day moving average price of $6.65 and a 200 day moving average price of $7.15. B&G Foods, Inc. has a twelve month low of $5.45 and a twelve month high of $11.72. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 2.40.

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B&G Foods (NYSE:BGS - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. B&G Foods had a positive return on equity of 6.97% and a negative net margin of 1.34%. The firm had revenue of $551.57 million during the quarter, compared to analyst estimates of $547.95 million. On average, equities analysts expect that B&G Foods, Inc. will post 0.7 EPS for the current year.

B&G Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 13.09%. The ex-dividend date is Monday, March 31st. B&G Foods's dividend payout ratio (DPR) is -23.90%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price objective on shares of B&G Foods from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.10.

About B&G Foods

B&G Foods, Inc is a holding company, which engages in the manufacture, sale, and distribution of shelf-stable frozen food, and household products in the U.S., Canada, and Puerto Rico. Its products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, and wine vinegar.